Why Biden’s multibillion-dollar bet on hydrogen energy is such a big deal

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🗞️ Driving the news: President Joe Biden has unveiled a plan to establish seven new hydrogen hubs around the country, a move to bolster the clean hydrogen industry and advance U.S. climate goals
• Biden's vision for these hubs aims to lay the foundation for a new energy industry, with the Department of Energy investing $7 billion in the endeavor

🔭 The context: Clean hydrogen holds the promise of powering areas of the economy that are currently difficult for renewables and electrification to penetrate
• Despite its potential, however, the majority of hydrogen production today is not environmentally friendly

🌍 Why it matters for the planet: Embracing cleaner hydrogen production methods is pivotal to combat climate change
• As it stands, however, the majority of hydrogen production is derived from fossil fuels, leading to significant carbon emissions
• Biden's proposed hydrogen hubs represent an ambitious effort to pivot away from these carbon-intensive methods

⏭️ What's next: The seven hydrogen hubs, spread across diverse regions, will need to navigate the complexities of the electric grid, production methods, and infrastructure development
• With $7 billion of federal funding on the table, Biden's administration is now attempting to attract an additional $40 billion in private investments
• Meanwhile, the precise definitions and regulations surrounding clean hydrogen are under scrutiny and will determine the industry's direction

💬 One quote: “Heavy transportation and heavy industry are the toughest nuts to crack, and hydrogen is the solution to that,” (David Crane, the Department of Energy’s undersecretary for infrastructure)

📈 One stat: Currently, 95% of U.S. hydrogen production is "gray hydrogen," made using a process that has a carbon footprint equivalent to that of the United Kingdom and Indonesia combined

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