Editorial Comment

TYLER CAMPBELL, Managing Editor, H₂Tech

Now that 2024 has come to an end and a new administration is set to occupy the U.S. White House, the future of the energy transition is in question. According to Gulf Energy Information’s Global Energy Infrastructure (GEI) database, there are 175 active blue hydrogen (H₂) projects around the world, about a third of which are in North America. This is down about 15% from January 2024 when the total active blue H₂ projects was 207.

Conversely, active green H₂ projects grew by 5% in 2024, reaching nearly 1,245. However, the increase in 2024 is much lower vs. 2023─2024, which saw a 37% increase in active green H₂ projects. 

Part of the reason for the slow growth of H₂ projects, at least in the U.S., may be due to a lack of clarification regarding H₂ tax credits. However, the U.S. Department of the Treasury and the Internal Revenue Service recently released the final rules for the 45V Clean H₂ Production Tax Credit, established by the U.S. Inflation Reduction Act (IRA). The tax credit includes H₂ production by methane pyrolysis and nuclear, two production methods that were previously excluded. It is uncertain whether the clarified tax credits and incoming administration will increase the number of new H₂ projects moving forward. Only time will tell, but the updates to the IRA are a step in the right direction. 

Gulf Energy Information insights. To address the uncertainty in global markets, Gulf Energy Information's expert editors will deliver deep insights into how President Trump’s policies will impact global energy markets. This webcast will explore recent shifts in U.S. energy policies and their global repercussions.  

Key topics include regulatory changes, adjustments in subsidies and taxes, and potential impacts on the oil, gas and renewable energy sectors worldwide. Additional discussions will focus on technological innovations, the energy transition and the role of AI in adapting to policy changes. 

For a deep dive into the global H₂ market, Lee Nichols, Vice President, Content/Editor-in-Chief, has provided an analysis on the major trends and initiatives in H₂Tech’s exclusive webcast. As we enter a new season, our editors will continue to inform the market on the latest industry technologies, trends and insights. H₂T