Governments worldwide need to simplify rules around hydrogen supply to attract investment and scale it up to become competitive enough to substitute fossil fuel use in heavy industry, energy executives said this week.
Provisions in U.S. President Joe Biden's signature Inflation Reduction Act and legislation in the European Union have incentivized the development of hydrogen but need further clarification, and government mandates may be required to encourage industries such as steel and shipping to embrace hydrogen, energy industry executives said at the CERAWeek energy conference this week in Houston.
"There is way too much conversation about if it is blue or green," Parfitt said. "The challenge is how do you create hydrogen as a business." Chief Executive Maarten Wetselaar told Reuters. Grey hydrogen is currently consumed by fertilizer, refining, and iron and steel units.For industries such as shipping, government mandates are needed to make hydrogen cost competitive with cheaper petroleum-based fuel oil, Wetselaar said.
NextEra is working with the U.S. Treasury on rules that govern what can be considered green hydrogen, he said. The process is complicated by the variability of renewable power supply from wind and solar, he said.
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