Japan's Hydrogen Society Promotion Act, effective from October 23, 2024, aims to promote the use of low-carbon hydrogen and its derivatives. The Act includes two main subsidy schemes: the Support Focusing on the Price Gap (CfD Scheme) and the Support for the Development of Hubs (Hub Support Scheme). Under the CfD Scheme, subsidies will be granted to suppliers of low-carbon hydrogen to bridge the price gap between production and transportation costs and conventional fuels' prices. Applicants need approval from METI for their business plans and then apply to JOGMEC for subsidies. The Hub Support Scheme offers subsidies to developers of transport and storage facilities for low-carbon hydrogen with coverage for Front-End Engineering Design, engineering, and construction costs. Additionally, approved businesses will receive special regulatory benefits under acts like the Port and Harbour Act and the High Pressure Gas Safety Act. METI has released application forms for business plan approval, requiring details on hydrogen supply, usage, infrastructure, and project costs to be submitted electronically through the G-Biz portal. The Act's implementation is seen as a key move towards Japan's carbon neutrality goals, providing a predictable environment for hydrogen development, likely benefiting both local and global market players. The process for business approval and subsidy applications is expected to begin soon, urging interested parties to review the requirements and potentially consult with METI for guidance.