On February 18, a diverse group of companies and organizations within the U.S. hydrogen industry, including manufacturers and supply chain participants, sent a heartfelt letter to U.S. congressional leaders expressing their willingness to support President Trump’s energy agenda and highlighting the unique opportunity that Section 45V tax credits provide for the U.S. to achieve “global energy dominance” in the fast-growing hydrogen energy market. The Section 45V tax credit provides a unique opportunity for the United States to achieve “global energy dominance” in the rapidly growing hydrogen energy market.
The call letter, sponsored by an industry coalition, highlights the enormous economic potential of the hydrogen energy industry, which could create 700,000 jobs and generate $140 billion in revenue by 2030 if supported by appropriate policies. The letter notes that the tax credits make not only economic but also strategic sense in light of intense international competition, particularly from China, whose share of the global hydrogen technology manufacturing industry has grown substantially.