Herein, risk perception as one relevant factor for public acceptance and examines the different levels of risk that play a role in the evaluation of new technologies and links them to the current societal discourses on the development of a hydrogen economy is addressed. The conceptual framework is based on a holistic understanding of risk that goes beyond mere technology assessment and also includes systemic risks along the value chain; different stakeholder perspectives are also addressed. Thus, the results of a media analysis are combined with the results of a representative survey in Germany. Results show a rather low risk perception of hydrogen in the public combined with a high degree of uncertainty in the respective risk estimation. Systemic risks like security of supply or increasing energy costs are perceived more strongly compared to accidental risks from hydrogen infrastructure, whereas for the public acceptance potential health risks show the strongest correlation. Overall, the study shows the relevance of risk considerations in the introduction of new technologies and accompanying communication measures.