Washington, DC – Today the Department of Energy implemented a recommendation of the Bipartisan Policy Center’s American Energy Innovation Council by selecting a third-part intermediary to implement a demand-side support program that will crowd-in private sector funding for clean hydrogen projects.
BPC has long advocated for policy solutions to foster the advancement and deployment of clean energy technologies. Today’s announcement follows BPC’s efforts to advise DOE on how to implement a hydrogen demand-side support program successfully, incorporating a diversity of political viewpoints and private sector insights. BPC has also developed a comprehensive and accessible guide on the design of demand-side financial tools that can help kickstart various clean energy markets. Tanya Das, BPC senior associate director of innovation, issued the following statement:
“The Department of Energy took a calculated risk by dedicating funding for this program. Demand support in this form could help to unlock the necessary private sector investments that will commercialize clean hydrogen at the pace set forth by Congress through the Regional Clean Hydrogen Hubs program. Demand-side tools are a compelling approach to support these new and developing markets, crowding-in private sector capital to address early supply and demand imbalances.
“DOE’s new demand-side support program must address market challenges for diverse types of clean hydrogen, consistent with congressional intent for the H2 Hubs program. The H2 Hubs program was developed and passed with bipartisan support in Congress, and it will be important to maintain that support as this joint effort by DOE and the third-party consortium gets underway.”
Report: High Hopes for Hydrogen