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Sounds about right, I'm no expert. The idea of passively generating zero-carbon fuel is very appealing to me but the reality is no doubt less simplistic. For cars and home heating I guess we'll be almost totally battery powered/electric before hydrogen as a fuel becomes economically viable. It might have a place in rocketry though.
More about hydrogen production using excess electricity (with some fudgy numerical estimates). A really good solution IMO.
https://www.carboncommentary.com/blog/2017/7/5/hydrogen-made-by-the-electrolysis-of-water-is-now-cost-competitive-and-gives-us-another-building-block-for-the-low-carbon-economy