[1/2] The BP logo is seen at a BP gas station in Manhattan, New York City, U.S., November 24, 2021. But grey hydrogen becomes "blue hydrogen" if the polluting emissions are captured. The IRA offers a $3 per kilogramme tax credit for clean hydrogen, which brings green hydrogen to par or even below the cost of grey and blue hydrogen, according to analysts. "With the hydrogen production tax credits that are now in place, it has ... allowed green hydrogen to be a lot more competitive," McLeod said. Subsidies will initially allow green and blue hydrogen to compete with grey hydrogen, allowing consumers to switch to cleaner fuel, McLeod said.

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