Today is Tuesday, October 3, 2023.
The International Energy Agency (IEA) issued its "Global Hydrogen Review 2023" last September 22.
According to IEA, momentum behind low-emissions hydrogen continues to grow towards a substantial increase in production levels by 2030, in spite of slow roll-out of financial incentives and projects cost pressures.
As more than 40 countries worldwide have already set out their national hydrogen strategies, there is an impressive global pipeline of projects, although only 4% of the announced low-carbon production projects have thus far reached final investment decision or construction phase. See map below.
Deployment of electrolysers is beginning to accelerate, from 700 MW by the end of 2022 to 2GW by the end of 2023, with China accounting for half of this. If all announced projects are realised, a total of 420GW could be achieved by 2030, an increase of 75% compared to the IEA’s 2022 review.
Grey hydrogen continues to dominate the global landscape, with low-emissions hydrogen still accounting for 0.6% of total hydrogen demand. About the hydrogen types, click here. And related to demand, there was a strong growth in all major consuming regions except Europe, which suffered a hit to industrial activity due to the sharp increase in natural gas prices.
The report also suggests some steps for governments to reduce risk and improve the economic feasibility of low-emissions hydrogen:
(1) effective delivery of support and financing schemes;
(2) strategies and targets to stimulate demand;
(3) addressing market barriers such as licensing and permitting;
(4) international cooperation;
and (5) develop common standards, regulations and certifications.
Click at the image of the cover page to download in full this very complete 176 pages report. And if you click at the map, you can access an online Executive Summary. Finally, here you have the press release.
