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Recently, the International Hydrogen Commission released a new report saying that due to a combination of many different factors, the global economy needs to invest and develop
hydrogen now more than ever.
"Today, the urgency to invest in mature hydrogen projects is greater
than ever," the report states.
A return to pre-COVID levels in global carbon emissions and growing concerns about Europe's energy security triggered by the Russia-Ukraine conflict point to one thing: our economy needs clean hydrogen and action needs to be taken to translate recommendations into practical deployments
.
”
The number of hydrogen projects worldwide continues to grow, but actual deployment is lagging behind
, the report said.
In 2022, there are about 680 large-scale hydrogen projects proposed worldwide, with a total investment of $240 billion, an increase of 50% from the number in November 2021, but only $22 billion of projects with an investment amount of $22 billion are in the investment decision-making stage
.
According to the report, the world needs to invest an additional $700 billion in hydrogen energy by 2030, and both governments and industries need to take action, and take immediate action
in 2022~2023.
The International Hydrogen Commission expects renewable hydrogen capacity to reach 14.
4 million mt/year and low-carbon hydrogen capacity to reach 11.
8 million mt/year
by 2030.
On the policy front, the report lists three key actions
that need to be taken by the end of 2023.
The first is to achieve visibility of demand and regulatory certainty through the adoption of legally binding measures; followed by rapid access to public funding for hydrogen projects; The third is to ensure international harmonization and support credible common standards and robust tradable certification systems
.
For industry, the report lists three key actions
that need to be taken by the end of 2023.
The first is to advance the project to the final investment decision stage as quickly as possible by committing funds and deploying resources; The second is to expand hydrogen supply chain capacity and capacity; The third is to build cross-border trade infrastructure
.
