Global Hydrogen Revolution: IEA Forecasts Fivefold Increase in Low-Carbon Hydrogen Production by 2030
Key Ideas
  • IEA's report forecasts a fivefold increase in low-carbon hydrogen production by 2030 due to growing investments in projects.
  • The need for policies to stimulate demand in heavy industry and transport sectors is emphasized by the IEA.
  • Projects with final investment decisions have doubled in the past year, indicating a significant rise in low-emissions hydrogen production.
The International Energy Agency's 'Global Hydrogen Review 2024' report highlights the escalating investments in low-carbon hydrogen projects, predicting a substantial increase in production by 2030. Over the last year, there has been a notable surge in projects with final investment decisions, which is expected to propel today's global low-emission hydrogen production five times higher. While acknowledging this progress, the IEA also stresses the necessity of implementing supportive policies to boost demand in critical sectors like heavy industry and transportation. The report underscores the crucial role policies play in driving the adoption of low-carbon hydrogen to combat climate change and transition towards sustainable energy sources. This positive outlook reflects a promising trajectory towards a greener future, characterized by advancements in the industrial sector and transportation fueled by the increased production of low-carbon hydrogen.
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