Green Hydrogen Boom Fizzles as Projects Collapse Worldwide

Three weeks ago, U.S. President Donald Trump signed into law the “One Big Beautiful Bill Act” (OBBBA)” that pretty much sounded the death knell for the nascent green hydrogen sector. Whereas OBBBA did not outright cancel the Section 45V clean hydrogen production tax credits as earlier feared, it did accelerate the deadline for projects to begin construction to be eligible for the credit, bringing the deadline forward to December 31, 2027 from January 1, 2033 as originally envisioned in Biden’s Inflation Reduction Act (IRA) of 2022.