The ink is still wet on the contract, but the US Department of Energy is so excited about its new green hydrogen project that they went ahead and announced it anyway. The deal involves a conditional loan guarantee of up to $1.66 billion aimed at kickstarting the construction of six new electrolyzer facilities in the US, which will deploy electricity from renewable resources to push hydrogen gas from water.
“This conditional commitment advances President Biden’s efforts to strengthen domestic clean energy supply chains, which are essential to meeting the nation’s ambitious climate goals and enhancing our national and energy security,” they add.Though costs are coming down, green hydrogen has a long way to go before hitting the Energy Department’s goal of $1.00 per kilogram.
Everything is bigger in Texas, so it’s no surprise to see other large-scale green hydrogen projects crop up there.That project appears to be moving along at a steady clip. In March, the global engineering firm ABB announced that its automation, electrification and digital technology will be assessed for
“The global green ammonia market, valued at $0.3 billion in 2023, is set to reach $17.9 billion in 2030, growing at a compound annual growth rate of 72.9 percent,” ABB points out.
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