HEA Urges UK Government to Invest in Inland Hydrogen Hubs for Economic Growth
Key Ideas
- The Hydrogen Energy Association recommends the UK's GB Energy invest in inland hydrogen hubs and industrial clusters to boost hydrogen trade.
- To capture a 10% share of the global hydrogen market by 2050, the UK could generate £70bn in revenue, £46bn in GVA, and 410,000 jobs.
- HEA stresses the importance of acting within a 10-year window to establish these hubs that combine demand with local production for economic benefits.
- The strategy aims to reduce reliance on long-distance transportation and national pipelines by integrating various user types and sizes in hubs.
The Hydrogen Energy Association (HEA) has proposed to the UK government that GB Energy should invest in inland hydrogen hubs, core industrial clusters, and ports to accelerate hydrogen trade and boost economic growth. With the global hydrogen market projected to reach £700bn annually by 2050, HEA emphasizes the need for the UK to secure a 10% share, which could result in £70bn in revenue, £46bn in GVA, and the creation of 410,000 jobs. The association underlines the urgency of acting within a 10-year timeframe to establish these hubs that bring together different users and sizes, enabling the coupling of demand with local production. This approach aims to reduce dependence on long-distance transportation and national pipelines, offering a more sustainable and integrated solution for hydrogen distribution. By aligning investment in these hydrogen hubs with the anticipated growth of the global hydrogen market, the UK could position itself strategically in the hydrogen economy, fostering economic prosperity and job creation while advancing sustainability goals.