The prospect that “green” hydrogen can become a commercially viable low-carbon energy carrier has engaged advocates of combating climate change for many years. Until now, however, green hydrogen production has been beyond commercial reach without sizeable government support and, over time, significant cost reductions. That could change with large new hydrogen production tax credits offered in the US Inflation Reduction Act (IRA) of 2022. In Europe, the combination of an “emissions trading system” (ETS) that effectively raises the price of fossil fuels and new hydrogen production subsidies could also make “green” hydrogen competitive.