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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