A critical enabler of the global transition to sustainable energy and net zero economies.
The race to achieving a net zero future is on and as the most abundant element on earth, hydrogen has the potential bridge the gap towards a green economy due to its versatility as an energy source and carrier. Often touted as the future of sustainable energy, it is no doubt that governments across the globe recognise the pivotal role this molecule will play in decarbonising hard to abate sectors and transforming our planet.
Governments across the globe are increasingly adopting national H2 strategies and implementing policies to support hydrogen infrastructure and developments. Some examples include the US Inflaction Reduction Act and EU REPowerEU Plan.
The continued rapid momentum and investment in green H2 could mean the production costs fall below $2/kg by 2030.
Completion of all hydrogen projects in the pipeline could result in the world’s capacity to produce H2 via electrolysers rising to up to 290GW in 2030, compared with 0.5GW in 2021.
Global H2 demand is set to reach 115 million tonnes by 2030. If governments fully deliver on their current climate pledges, that number could rise to 130 million tonnes, with more than a quarter of it being met by low-emissions H2.
Advancements in electrolyser technology are expected to result in a sixfold manufacturing capacity increase by 2025, and a cost reduction of 70% by 2030.
Global renewable energy capacity has grown by over 200% in the past decade and is projected to increase by 2400 GW (almost 75%) between 2022 and 2027.
While the pipeline of projects for low-carbon H2 production keeps expanding, a significant portion remain at advanced planning stages, with few progressing to post-FID phases due to uncertainties around demand, lack of regulatory frameworks and of available infrastructure to deliver H2 to end users.
As the project pipeline continues to grow over the coming years, PurePowerHydrogen recognises the need to provide early support for H2 projects to maximise chances of reaching FID and scaling up. We do this by putting feet on the ground and derisking the earliest stages of clean H2 project development, and providing ecosystem-enabling tools that streamline processes while optimising outcomes, so as to collectively accelerate our shared vision of scaled clean H2 production with stakeholders across the full value chain.