Updated 27 September 2026 with current US power prices by region, an analysis of gas prices and green versus blue hydrogen, and a second project example. Republished by REGlobal on 5 October 2026. Roughly 60 clean-hydrogen projects, more than 4.9 million tonnes a year of planned capacity, were cancelled in 2025. The technology did not stop working. The economics only ever closed on a single subsidy, the demand never showed up at the price, and OBBBA just lit a fuse under the