Hydrogen Insights 2024: Global Project Pipeline Growth and Maturation
Key Ideas
- The Hydrogen Council's report reveals a seven-fold increase in committed capital for hydrogen projects reaching final investment decision in the past four years, indicating significant industry progress.
- There has been a notable shift from project planning to implementation in the global hydrogen project pipeline, with investments past final investment decision growing by 90%.
- Despite facing challenges like rising inflation and regulatory uncertainties, the hydrogen sector is urged to drive more investment by 2030 to meet mid-century targets for global climate goals.
- Industry leaders emphasize the need for a united effort from governments and industry to realize hydrogen's full climate and socio-economic potential through targeted incentives and a supportive regulatory framework.
The Hydrogen Council's latest report, Hydrogen Insights 2024, highlights the significant growth and maturation of the global clean hydrogen project pipeline. With over 1,500 projects worldwide, there has been a seven-fold increase in committed capital for projects reaching the final investment decision (FID) in the past four years, amounting to about USD 75 billion across 434 projects in 2024. The report underscores a shift from project planning to implementation, with investments past FID growing by 90%, totaling approximately USD 680 billion through 2030.
Industry leaders like Jaehoon Chang and Ivana Jemelkova emphasize the industry's progress but stress the need for further action to ensure an accessible and affordable hydrogen supply to enable widespread adoption. Despite facing challenges such as regulatory uncertainties and project delays, the hydrogen sector is urged to increase investment by 2030 to meet global climate targets. Sanjiv Lamba highlights the importance of a united effort to unlock hydrogen's full potential, emphasizing the role of governments and industry in providing the necessary support for project execution.
The Hydrogen Council's commitment to accelerating the clean energy transition through sustainable growth and social value is evident in its global reach and collaboration efforts. By fostering innovation and promoting collaboration between industry, governments, investors, and civil society, the Council aims to accelerate the deployment of hydrogen ecosystems worldwide. The report provides a comprehensive overview of the global hydrogen ecosystem, drawing on both public information and proprietary data to offer an objective perspective on the industry's status and deployment.
Topics
Projects
Clean Energy
Sustainability
Investment
Energy Transition
Project Development
Global Market
Climate Goals
Industry Maturation
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