It’s still not earning you money to spend electricity because you still have to pay the transfer fee which is around 6 cents / kWh but it’s pretty damn cheap nevertheless, mostly because of the excess in wind energy.
Last winter because of a mistake it dropped down to negative 50 cents / kWh for few hours, averaging negative 20 cents for the entire day. People were literally earning money by spending electricity. Some were running electric heaters outside in the middle of the winter.
Don’t store it in diatomic form. Ammonia is the common alternative for hydrogen storage and transport, iirc
And even if round trip efficiency is poor, if renewables are in excess, it would be so much better to dump that energy into something that to have to curtail.
There’s no shortage of solutions better than hydrogen for storing grid energy.
There were niches where hydrogen might have made sense 10 years ago. Other solutions have gotten better and better–not just lithium batteries, either–and it’s gotten squeezed out. There’s still a few where it might, like trucks and planes, but even those seem to getting overtaken by better tech elsewhere.
Any significant investment in hydrogen infrastructure is likely to be overtaken before it can see a return on investment.
There aren’t many other options for long-term storage. Massive, cryogenic storage facilities could hold summer-produced hydrogen for winter generation, or allow grid-scale energy transport across the equator.