Study suggests positive hydrogen future for Europe
A new report says most of the world’s planned hydrogen projects and the biggest share of related investments are expected to be in Europe.
The study, produced by the Hydrogen Council in collaboration with McKinsey, says of the 228 hydrogen projects announced globally, 55% of them –126 projects – are in Europe.
Most are due to launch this decade, focusing on renewable hydrogen or fossil fuel-based Hydrogen using technology to capture the resulting emissions.
If all planned projects were realised, the report says global investments would exceed $300bln this decade – around 1.4% of total energy sector investments – with Europe pulling in around 45% of the total. The majority of that funding has not yet been secured.
Hydrogen Council Executive Director Daryl Wilson attributed Europe’s lead to early investments in hydrogen supply chains and projects like Germany’s hydrogen-fuelled trains, plus climate change policies. “That stable policy commitment environment allows the industry to have the confidence to act,” he said.