The article provides a comprehensive review of recent advancements in hydrogen (H2) production, focusing on the challenges and developments in improving efficiency, cost-effectiveness, storage, safety, and transportation. H2 is highlighted as an abundant and environmentally friendly energy source that can play a significant role in reducing fossil energy consumption and achieving 'net zero' emissions by 2050. Various methods of H2 production are discussed, including electrolysis, steam methane reforming, biomass gasification, and emerging technologies such as photoelectrochemical electrolysis and algae-based biological production. The article emphasizes the importance of green H2 production through renewable energy sources and the distinction between gray, blue, and green H2 based on extraction methods. The review also underscores the significance of integrating H2 into existing energy infrastructures and explores the role of gasification and electrolysis in producing low-carbon H2 to reduce reliance on fossil fuels. Projections from the International Energy Agency suggest a substantial scale-up of electrolysis technologies to meet the global energy demand sustainably, with a focus on achieving net zero emissions by 2050. Overall, the article presents potential solutions to overcome challenges related to H2 production, storage, safety, and transportation, offering insights into achieving a carbon-neutral society and reducing carbon emissions.