Green Hydrogen Rising: Việt Nam's Ambitious Strategy and Hurdles Ahead
Key Ideas
- Over 40 countries, including major players like the EU, Japan, China, and the US, have launched hydrogen strategies with substantial financial backing by early 2023.
- Việt Nam has unveiled an ambitious hydrogen strategy aiming to produce 100,000 to 500,000 tonnes of green hydrogen annually by 2030, aligning with broader net-zero emissions goals.
- Challenges such as high production costs, unclear investment guidelines, and limited infrastructure hinder green hydrogen projects in Việt Nam, requiring government support and international collaborations.
- Despite hurdles, Việt Nam's rich renewable energy resources position it as a potential significant player in the global green hydrogen market, essential for the transition to net-zero emissions.
Interest in green hydrogen is surging globally as renewable energy demand, government backing, and technological progress drive momentum. Countries like the EU, Japan, China, and the US have initiated hydrogen strategies with substantial financial support. The EU aims for green hydrogen to account for 13-14% of its energy by 2050, while Japan and South Korea target 10% and 33%, respectively. Việt Nam has recognized the potential of green hydrogen and launched its strategy, setting bold production goals aligning with net-zero emissions objectives. The strategy includes plans for blue and green hydrogen production, aiming for both domestic use and exports, along with innovative power generation approaches. Despite the promising outlook, Việt Nam faces hurdles like high production costs, unclear guidelines, and limited infrastructure, necessitating government policies and international partnerships for advancement. The country's renewable energy abundance presents an opportunity to overcome challenges and emerge as a significant player in the global green hydrogen market. By navigating obstacles and leveraging collaborations, Việt Nam can contribute to the crucial shift towards a net-zero emission future.
Topics
Blue Hydrogen
Renewable Energy
Infrastructure
Investment
Regulations
Global Market
Renewable Resources
Government Support
Industrial Growth
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