Sowing the Seeds of a Hydrogen Revolution in Europe
Key Ideas
  • Europe is investing in hydrogen as a key player for decarbonization in hard-to-abate sectors such as steel and transportation, showcasing significant emission reductions.
  • The potential of hydrogen extends to long-term energy storage, grid balancing, and flexibility, essential for achieving a fully renewable electricity grid.
  • While Europe has taken significant steps to support hydrogen projects, more financial investments at both European and national levels are necessary to compete globally and accelerate market growth.
  • The European Commission's initiatives such as Clean Industrial Deal and IPCEI programme aim to provide financial support and create a strong foundation for the deployment of hydrogen in various industries.
The article discusses the importance of clean hydrogen as a versatile energy carrier that plays a crucial role in decarbonizing various sectors. Jorgo Chatzimarkakis, CEO of Hydrogen Europe, emphasizes the need for increased financial investments to propel the hydrogen market forward. He highlights Europe's past successes in wind and solar power investments and the potential for hydrogen to further accelerate the energy transition. Several European projects demonstrate the practical applications of hydrogen in industries like steel production, transportation, and energy storage. The article underscores the necessity of complementary tools like hydrogen to achieve decarbonization goals, especially in sectors where electrification is challenging. While acknowledging Europe's progress in supporting hydrogen projects through initiatives like IPCEI and the European Hydrogen Bank auctions, the author calls for additional funding at both European and national levels to ensure global competitiveness. The European Commission's proposed regulatory framework and financial support mechanisms are seen as positive steps towards fostering a robust hydrogen market. The article concludes by emphasizing the urgency of investing in hydrogen now to secure long-term benefits in terms of job creation, decarbonization, resilience, and competitiveness in the global market.
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