Hydrogen auctions have become a global phenomenon to encourage the shift towards renewable hydrogen as an eco-friendly alternative to traditional fossil fuels. The European Union, along with individual member states like the UK, Germany, Denmark, and the Netherlands, have been actively conducting auctions and subsidy schemes to promote the growth of green hydrogen markets in their regions. Green hydrogen, produced from renewable sources, is crucial for decarbonizing hard-to-abate industries and various transport sectors. However, its production costs are significantly higher compared to traditional methods due to factors like electricity input and electrolyser costs. Despite this, the EU has set ambitious targets for renewable hydrogen production by 2030. The recent announcement by Ursula von der Leyen about the upcoming European hydrogen auctions in 2024 has garnered significant interest globally, with countries like Japan also entering the hydrogen auction arena. Lessons from past auctions and ongoing domestic schemes in the UK, Germany, Denmark, and the Netherlands are shaping the future of renewable hydrogen production. The European Hydrogen Bank administered a successful pilot auction in April 2024, awarding €720 million to seven hydrogen projects. However, challenges remain in selecting projects within budget constraints and ensuring their successful execution. Germany has strategically leveraged the European hydrogen auctions to complement its national hydrogen efforts. With a domestic subsidy scheme supporting projects that missed out on European funding, Germany aims to ensure the success of its renewable hydrogen initiatives. By aligning with the European criteria and streamlining the auction process, Germany is fostering a competitive environment for green hydrogen production while adhering to state aid regulations.