Virtual Investor Forum and Pitch Event
November 16, 2022; 8:00 a.m. – 10:30 a.m. (PT)
We are about to see a sea change in the hydrogen market. Join our discussion on what to look for as the private market begins to follow the U.S. government's lead.
The Inflation Reduction Act of 2022 (IRA) extends hydrogen subsidies that can turn green hydrogen (produced using zero-carbon) from an emerging technology to a major player in the energy transition. The production tax credit (PTC) is widely believed to make green hydrogen cost-competitive with gray hydrogen, which is produced from fossil fuels and is the most common form of hydrogen production today.
Also, until recently, there hasn’t been enough incentives to bring storage projects up to par with other renewable energy technologies. Yet energy storage plays a critical role in the reliability of the grid. The IRA addresses this need with an expanded investment tax credit (ITC) for energy storage (for both battery and hydrogen).
Add to this momentum the Infrastructure Investment and Jobs Act (IIJA) passed in late 2021. The bi-partisan infrastructure law provided the Department of Energy (DOE) with $7 billion to create regional clean hydrogen hubs across the country. It is part of a larger $8 billion hydrogen hub program that has been given the goal of reducing the cost of green hydrogen to $1 per kilogram.
All of this investment could allow low-carbon hydrogen to compete head-on with fossil fuels, particularly in high energy applications such as steelmaking, medium- and heavy-duty trucking, marine and rail transportation, mining and agricultural equipment, ammonia production, e-aircraft, grid scale storage and industrial heat.
The net? Between the subsidies (in the form of tax credits) and investment in infrastructure, the U.S. may be able to produce the cheapest hydrogen in the world.
But this promising outlook, and accompanying decarbonization goals, hinge on the subsidies being used for actual low-carbon production (vs. greenwashing). Further, for greatest impact, the subsidies would have to go to industries and applications hardest to electrify.
Accredited investors and startups are welcome to join us for presentations and discussions around the juncture of these opportunities and challenges. Afterwards, our event will pivot to a pitch event spotlighting several high-potential seed and early stage companies.
Supporting the Growing H2 Ecosystem
Johanna Lee Jamison, Program Manager, Shell GameChanger Accelerator powered by NREL (GCxN)
Perspectives on H2 Markets and Policy
Tessa Weiss, Senior Associate, Climate-Aligned Industries Program
What to Look for, Investible Opportunities in H2
Pitch Event - featuring: