U.S. Senators Todd Young (R-Ind.) and Sheldon Whitehouse (D-R.I) reintroduced the Hydrogen Utilization and Sustainability (Hy USA) Act. This bill will include hydrogen as part of the renewable resources eligible for the existing Renewable Electricity Production Tax Credit (PTC) and will 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 should harness. My bipartisan Hydrogen Utilization and Sustainability (Hy USA) Act would not only promote increased investment in hydrogen to strengthen our American economy, but also build U.S. energy leadership abroad,” said Senator Young. “As we continue to navigate these unprecedented times, utilizing emerging resources like hydrogen will bolster our economy and help Hoosiers rebound faster from the pandemic.”
“To pass nature’s test of limiting warming to 1.5 degree Celsius, we need to scale up rapidly our low-carbon sources of energy,” said Senator Whitehouse. “This bipartisan bill will help us tap a promising low-carbon energy source, and reassert America’s global leadership on climate change. That’s a win-win.”
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 energy storage 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.