Now is the time to tap into hydrogen’s potential. A zero-carbon fuel source and long-duration storage, hydrogen is essential to deep decarbonization. However, cost-effectively deploying hydrogen at scale remains a critical challenge. Mitsubishi Power is collaborating with energy experts to develop and deploy hydrogen infrastructure across the Americas. It’s not about 2050, it’s about today.
The Inflation Reduction Act (IRA) of 2022 is the single largest investment in climate and energy in American history, enabling lower energy costs and incentivizing the adoption of clean energy technology to combat climate change and advance human prosperity. The IRA will provide federal incentives for companies to advance and expand their investments in energy infrastructure including deploying utility-scale hydrogen, both as energy storage and a decarbonizing fuel. Mitsubishi Power dives deeper into the IRA tax credit program and the four primary pillars of benefit for power producers:
Provides long-term financial incentives for the production of low-carbon energy
Provides long-term incentives for capital investment in clean energy infrastructure
Adds new tax incentives for clean energy production and investment, including hydrogen
Fundamentally transitions the tax code toward a technology-neutral approach to clean energy production and investment
Mitsubishi Power is working with early adopters to deploy hydrogen at scale. Mitsubishi Power and Magnum Development are jointly developing the Advanced Clean Energy Storage hub in Delta, Utah. The Intermountain Power Agency is expanding its role as a regional clean energy hub using green hydrogen produced at the Advanced Clean Energy Storage hub for its IPP Renewed project which will provide 840 mw of clean electricity. The development of this hydrogen network is imperative for improving access, affordability, and scalability for power producers to achieve their net zero goals.
Wherever you are on your net zero journey,
our hydrogen-ready solutions can help you chart your course toward a clean energy future
Green hydrogen is a cost-effective solution for long-duration energy storage. With the support of tax credits and incentives, increased deployment of utility-scale hydrogen production, and the ongoing addition of renewables, the cost of hydrogen will continue to decline. As a supporting member of the Green Hydrogen Coalition and EPRI’s Low Carbon Research Initiative to launch, Mitsubishi Power is working with key partners to deploy a low-cost green hydrogen ecosystem across the continent.
Leads to overall, optimized system across sectors
To accelerate the commercialization of hydrogen, Mitsubishi Power has developed the world’s first center for validation of hydrogen-related solutions, from production to power generation. The Takasago Hydrogen Park will commence operations in 2023 and will be used to commercialize small and large gas turbines on a path to 100% hydrogen firing starting in 2025.
The Hydaptive™ integrated package provides renewable energy flexibility by acting as a near-instantaneous power balancing resource that greatly enhances the ability of a simple cycle or combined cycle power plant to ramp output up and down to provide grid balancing services.
Hydrogen fuel has the potential to decarbonize multiple economic sectors, including transportation, heavy industry, power generation, and data services. A clean and versatile energy carrier, hydrogen fuel will significantly reduce emissions and enable wide-scale transformation and decarbonization of global energy systems.
Hydrogen has a long history of safe use. According to the U.S. Department of Energy, many of hydrogen’s properties make it safer to handle than other commonly used fuels. Currently, there are over 1,700 miles of 100% hydrogen pipelines safely operating in major U.S. cities, such as Los Angeles, Salt Lake City, and Houston
Wherever you are on your net zero journey, our hydrogen-ready solutions can help you chart your course toward a clean energy future.
