The global hydrogen market is undergoing scrutiny as efforts to establish clearer subsidy mechanisms and regulatory frameworks in the US, Europe, and Asia-Pacific aim to bring more certainty to the industry. Luke Robottom, a partner at Ashurst, shares insights on the current state of the market and the challenges faced in developing green hydrogen projects. Despite widespread interest from governments, sponsors, and lenders, there is a disconnect between readiness and project realization. The discussion delves into the differences between green hydrogen and grey hydrogen, highlighting the capped global demand for hydrogen as a key factor. Comparisons are drawn with the renewable energy sector's journey, emphasizing the need for innovative mechanisms to bridge the gap between cost and supply. The conversation explores how past challenges in renewable energy projects were overcome through mechanisms like the CfD, leading to cost reduction and increased efficiency over time. This signals a pathway for green hydrogen development to potentially overcome current hurdles and establish a more robust presence in the global energy landscape.