Uses
The presence of large quantities of water on the Moon would be an important factor in rendering lunar habitation cost-effective, since transporting water (or hydrogen and oxygen) from Earth would be prohibitively expensive. If future investigations find the quantities to be particularly large, water ice could be mined to provide liquid water for drinking and plant propagation, and the water could also be split into hydrogen and oxygen by solar panel-equipped electric power stations or a nuclear generator, providing breathable oxygen as well as the components of rocket fuel. The hydrogen component of the water ice could also be used to draw out the oxides in the lunar soil and harvest even more oxygen.
Analysis of lunar ice would also provide scientific information about the impact history of the Moon and the abundance of comets and asteroids in the early inner solar system.
Read more about this topic: Lunar Water