U.S. Senators Todd Young (R-Ind.) and Sheldon Whitehouse (D-R.I) introduced the Hydrogen Utilization and Sustainability (Hy USA) Act to include hydrogen among the renewable resources eligible for the Renewable Electricity Production Tax Credit (PTC). The bipartisan bill would incentivize investment in hydrogen-based energy, a next-generation carbon alternative.
“As the most abundant element in the universe, hydrogen is an emerging energy source that we must seriously target today,” said Senator Young. “Our bipartisan bill would promote increased investment in hydrogen to strengthen the American economy and build energy leadership abroad.”
“We need to find alternative low-carbon fuels to power the economy,” said Senator Whitehouse. “Our bipartisan hydrogen-based energy incentive holds promise to open additional carbon-free pathways as we reassert America’s global leadership on climate change.”
Hydrogen energy has been billed as a promising energy alternative to carbon for years, yet has not seen national investment like other renewable energy sources. Proponents of hydrogen see emerging use in a variety of industries, including transportation and electric vehicles as well as more general electricity production. Hydrogen infrastructure has gained the support of over $100 billion in global investments. It is estimated that hydrogen infrastructure could generate 700,000 jobs in the next ten years.
In December 2019, Senator Young signed a letter to express the importance of “continued national investment in hydrogen production.” View the letter here.
For the full bill text, click here.