Unlocking the Potential of Hydrogen: Key Findings and Insights for 2030
Key Ideas
- Hydrogen Council's latest analysis with McKinsey predicts a high demand for hydrogen in the EU, US, and East Asia by 2030, emphasizing the need for feasible measures to support this growth.
- The report highlights the potential to reduce production costs of clean hydrogen through policy implementations such as EU's REDIII, Japan's feed-in tariff system, Korea's clean hydrogen standards, and the US Inflation Reduction Act.
- Existing use cases like refining and ammonia production could absorb around 8 million tons annually by 2030, while emerging sectors like truck transportation depend on infrastructure expansion and cost reduction for clean hydrogen production.
- The report envisions a future where hydrogen plays a significant role in decarbonization across industries like maritime and aviation, stressing the importance of policy certainty, interdepartmental cooperation, and support for the hydrogen ecosystem's growth.
A recent report from the Hydrogen Council in collaboration with McKinsey highlights the growing demand for hydrogen in the EU, US, and East Asia by 2030. The analysis suggests that effective implementation of existing policies could lead to the production of around 100 million tons of clean hydrogen annually. By focusing on initiatives like EU's REDIII, Japan's feed-in tariff system, Korea's clean hydrogen standards, and the US Inflation Reduction Act, there is potential to bridge the cost gap and incentivize the use of clean hydrogen. The report also discusses the importance of enhancing infrastructure and lowering costs to unlock use cases in sectors such as refining, ammonia production, and emerging areas like truck transportation. With around 75% of the projected hydrogen demand coming from established use cases, the report outlines the necessity of policy certainty, simplicity, and cross-sectoral collaboration to expand hydrogen production and drive sustainable growth.
Topics
Asia
Government Policies
Sustainability
Energy Transition
Clean Technology
Carbon Reduction
Industry Growth
Infrastructure Development
Economic Impact
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