Hydrogen has long been promoted as a clean fuel capable of transforming the electric power industry and beyond. Specifically, green hydrogen produced using renewable energy-powered electrolyzers offers significant emissions reductions in sectors that are otherwise difficult to decarbonize. As utilities and energy firms embraced this vision, a remarkable surge of projects and plans emerged. Now, the industry faces a crossroads between potential and practicality. Economic challenges, technical obstacles, and shifting political landscapes have introduced new uncertainties.