The European Union is leading the charge towards developing green hydrogen as a key element in decarbonization efforts and transitioning towards a net-zero economy. Green hydrogen, produced through electrolysis powered by renewable electricity, is seen as crucial in complementing existing measures for storing renewable energy and reducing carbon emissions. The EU aims to substantially increase green hydrogen demand by 2050, necessitating additional renewable energy capacity. There are set targets for green hydrogen production costs by 2030 to make it competitive with natural gas, with electricity costs representing a significant portion of the total operating costs. However, challenges like high production costs, underdeveloped infrastructure, and insufficient policy frameworks hinder large-scale deployment. Studies show a varying levelized cost of hydrogen, influenced by electricity costs, electrolyzer efficiency, utilization, and financing costs. Regulatory support is identified as a key driver to achieving competitive cost levels. The article emphasizes the importance of ramping up green hydrogen demand, supply, and infrastructure simultaneously to drive the green hydrogen revolution.