The U.S. government is spending $8 billion to promote hydrogen as a clean fuel, but it faces cost challenges and competition.
Energy companies and chambers of commerce are touting clean hydrogen as the key to Texas remaining the energy capital of the world, but the path is far from clear and success is equally uncertain. Hydrogen is the most common element in the universe. It puts the hydro in hydrocarbons, oil and natural gas molecules that produce energy.
Innovators up and down the supply chain are trying to bring down these costs, and entrepreneurs promise significant price drops in the years ahead. But other energy sources are also trying to drive down costs, and competition for clean electricity is growing. The business plans behind many hydrogen projects assumed that wind and solar power would generate excess electricity and drive down prices.
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