Green Hydrogen Hype Fades as High Costs Force Project Retreat

Major energy companies see little demand for green hydrogen
Hydrogen could be a crucial, but costly tool to cut emissions

Governments and companies have invested billions of dollars in building the infrastructure and pipelines to move away from fossil fuels. But a recent hydrogen push has revealed that effort may have a dirty secret.Source: Bloomberg

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By Will Mathis

October 3, 2024 at 1:39 PM UTC

This article is for subscribers only.

Climate-friendly hydrogen was one of the most-hyped sectors in green energy. Now the reality of its high cost is taking its toll.

In recent months, some of the biggest would-be developers of the fuel have canceled projects, axed orders and scaled back investment plans. The low-carbon fuel is simply too expensive to stimulate demand in many sectors of the economy.