The Biden administration's commitment of up to $1 billion for green steel projects in the United States signifies a crucial move towards decarbonizing the steel industry. The initiatives in Ohio and Mississippi involve building hydrogen-based ironmaking facilities to cut down on emissions. Cleveland-Cliffs in Ohio and SSAB in Mississippi are pioneering projects that could set a new standard for cleaner steel production globally. The green steel projects are poised to significantly reduce CO2 emissions by embracing clean hydrogen, necessitating a substantial amount of renewable electricity and water for production. Cleveland-Cliffs aims to replace a coal-fueled blast furnace with a new hydrogen-ready plant, potentially reducing carbon emissions by up to 90%. The transition to running exclusively on hydrogen could require vast amounts of renewable power, driving the adoption of wind and solar capacity. The move towards green steel not only addresses environmental concerns but also presents economic opportunities. The steel industry's pivot towards clean technology is expected to spur investment in renewable energy and hydrogen production. Production tax credits, such as the 45V hydrogen production tax credit, are likely to incentivize steel producers to invest in on-site hydrogen production, further promoting sustainability in industrial manufacturing. While challenges lie ahead in scaling renewable energy capacity and hydrogen production, the momentum towards greener steel production in the U.S. is promising for both the environment and the economy.