The U.S. Department of Energy’s Office of Clean Energy Demonstrations has selected a team to speed up the growth of the clean hydrogen economy. This effort is part of President Biden’s Investing in America Agenda. The team, or consortium, includes the EFI Foundation, S&P Global, and Intercontinental Exchange. Their job is to create and manage programs to increase demand for clean hydrogen, especially for the new Regional Clean Hydrogen Hubs (H2Hubs).
Why This Matters
For clean hydrogen to become a big player in our energy market, we need people and businesses to want to buy and use it. Right now, there’s often a gap between having enough hydrogen available and having enough buyers ready to use it. The H2Hubs are crucial to this plan. They are part of a national strategy to make hydrogen a key energy source. This strategy includes incentives from the Inflation Reduction Act and continuous research to make hydrogen cheaper—aiming for just $1 per kilogram within the next ten years.
How the Consortium Will Help
The consortium will focus on creating demand for clean hydrogen. The EFI Foundation will lead the way with their expertise in hydrogen economy development. S&P Global will provide market information, and Intercontinental Exchange will manage financial exchanges. Together, they will help make the market for clean hydrogen more stable and attractive for private investors.
The Bigger Picture
These efforts are coordinated by the Hydrogen Interagency Task Force, which brings together various government agencies to push the clean hydrogen agenda forward. By ensuring there’s a strong demand for clean hydrogen, the consortium aims to make the H2Hubs successful and set the stage for a cleaner, more sustainable energy future.
