America's Clean Hydrogen Dreams Are Fading, Again

Companies are canceling clean hydrogen projects across the United States after Congress shortened the qualification window for a Biden-era tax credit by five years, requiring projects to be under construction by the end of 2027. Energy consulting firm Wood Mackenzie estimates three-quarters of proposals will not meet this deadline. Woodside Energy and Fortescue have scrapped projects in Oklahoma and Arizona respectively, citing cost increases and policy uncertainty. According to McKinsey, fewer than 15% of low-emission hydrogen projects announced in the United States since 2015 have reached final investment decision stage.

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