It is claimed that investment projects in the hydrogen industry can create up to 40,000 new jobs in the West.
Western Gateway, a partnership between local authorities in south Wales and the west of England, said it could be used to produce steel and jet fuel.
Meanwhile, a new 72-hectare solar farm has opened in Codford, Wiltshire, capable of powering 4,850 homes.
Centrica has opened the farm and will provide 18 megawatts of electricity.
"You don't have to be as sunny as summer to get electricity from solar, but on a good day you can save 25% of the UK's electricity," said Chris O'Shea, chief executive of Centrica.
"In the UK we can get to net zero before 2050 if we get the policies right, that's very achievable."
"We don't have enough land or wind," he added.
Codford is Centrica's first solar farm in the UK and Wiltshire has the second largest number of solar farms in the UK.
"Gas and oil are dependent on foreign governments and we can't control those prices," said Chris Skidmore, the former energy secretary who led the Net Zero Review.
At a conference in Newport, hundreds of people heard how hydrogen energy could help reduce carbon emissions.
Hydrogen engines mix oxygen from the atmosphere with hydrogen to produce electricity and water as waste.
Western Gateway president Catherine Bennett said the region could become a "green powerhouse".
We have universities, airports and the aviation industry looking to invest in hydrogen.
“We all know how complicated energy costs can be.
"It's very encouraging for the government and other investors to argue that it can be attractive," she said.
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