There will be no rapid energy transformation based on hydrogen
The introduction of hydrogen into the energy mix will be slower than previously forecast. This is because of the poor commitment of many governments to the hydrogen switch-over policy and the banks’ low confidence in financing hydrogen projects. The initiatives and projects are demonstrators and do not automatically change on an industrial scale.
– Hydrogen will probably meet only 5% of global energy demand by 2050.It will be two-thirds less than it should be on the path to net zero emissions – warns Remi Eriksen, President and CEO of DNV Group in the introduction to the latest DNV report.
OECD and Pacific regions will get 8% of hydrogen in the energy mix in 2050. On the other hand, the countries of North America will achieve 7%, despite the fact that they have specific strategies, goals and project financing. In this region, the fact that these countries have lower carbon costs may be a drag. China can generate 6% of its energy from hydrogen in 2050.
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