The problem is scale. Since the other responder didnt want to do napkin math - you could give it a go w.r.t to hydrogen. It gets very very expensive rather quickly. So very expensive you might start to wonder if you shouldn't have built a nuclear plant instead.

Local factories etc. might see a need/use for hydrogen production (Swedish Hybrit comes to mind) but as a national grid stabilizer.. I'm doubtful

They all have something in common: they are very expensive at the scale we need. Hydro is one off the cheapest we have, and if you had a good location you would still be looking at hundreds of millions of dollars (or likely billions!) to build it.