Hydrogen is already a key component of chemical industrial processes and in the steel industry. So making clean hydrogen to use in those industrial processes is critical to reducing carbon emissions, says Jake Stones at market research firm Independent Commodity Intelligence Services (ICIS).

But as an energy source itself, hydrogen’s big advantage is its versatility according to Sunita Satyapal, who oversees hydrogen fuel cell technology for the Department of Energy.

“It’s often called the Swiss Army knife of energy,” she says.