Hydrogen is considered by many to be one of the key components of the energy transition, that could complement the intermittent renewable energy sources and help achieve Net Zero Emissions by 2050. Even though there is a lot of interest around it and is believed that it can replace fossil fuels in most of their applications, there are still no signs of widespread adoption, in contrast to the other technologies of the energy transition, that are developing with a rapid pace in the last years. This study explores the role of renewable hydrogen in a carbon-free future, by assessing its potential, its challenges and the advancements in its main competing technologies. A significant portion of it is devoted to techno-economic analysis, examining the cost drivers of green hydrogen, along with safety considerations, production, transportation and storage challenges. The thesis also reviews European policy and the tools aimed at supporting hydrogen uptake with a specific focus on Greece. The country has favorable conditions to produce and export large quantities of hydrogen at an affordable cost, thanks to its renewable potential and strategic location. However, for this potential to materialize, Greece needs to rethink its overall approach to energy planning. This includes a realistic policy shift, proper infrastructure development, a strategy grounded on data and the mobilization of funds from the EU. The findings suggest that hydrogen can play a meaningful role in Greece’s decarbonization, particularly in industry and refining, enhancing the competitiveness of these sectors, while also attracting new investments in other energy-intensive industries.