A wise person once said, “not everything is planning, but planning is everything”. This can actually be applied to “n” scenarios, and what is most important, it can be brought into the global context of hydrogen. In this brief article, I will proceed to present some strategies that countries are adopting and their stimulus plans.
To begin with, if we talk about hydrogen the first region that comes to our mind is Europe. They have presented a strategy, backed through a COVID-19 stimulus plan of around 930 billion EUR to mitigate climate change. Despite the situation generated by the pandemic, 2020 was a key year regarding hydrogen, where many countries set their targets to implement this technology as a means to decarbonize. Their target is to reach the 6 GW installed capacity of electrolysis by 2024 and aim for 40 GW by 2030. If we considered a theoretical global capacity of 250 MW, this would mean a 2400% increase in just 4 years, and if we wanted to reach the objective for 2030, it would translate to a 110% yearly increase after reaching the 6 GW capacity on 2024. Nevertheless, these ambitious targets would lead to reaching the industrial scale by 2050.
Looking into Germany, which is leading the hydrogen transition, they have a strategy with a stimulus plan of 16 Billion EUR which is a part of their COVID-19 recovery incentive. They have partnerships with Canada for the development of fuel cells, but still, local companies are looking into hydrogen technology development for industry decarbonization. Portugal is another country that has already presented its strategy of 8 Billion EUR as an incentive plan for hydrogen investments. Their focus is set mainly on PV coupled with hydrogen, with a couple of projects beginning to operate in 2023.
I would like to highlight that hydrogen is not a hype now, it is actually happening, and it is growing at an accelerated pace.Massimiliano A. Cervo
Finally, Australia is not only investing in hydrogen but also released its hydrogen strategy recently. It consists of a fund of 273 Million USD, prioritizing green hydrogen, aiming to promote local hydrogen production for future exports. Their approach is based on building hydrogen clusters in the country in order to create a local demand as well. Their strategy also includes the possibility of green ammonia as a versatile and flexible hydrogen carrier for export.
Germany, Portugal, and Australia have plans to invest 16 Billion Euros, 8 Billion Euros, and 273 Million USD, respectively, in various projects related to renewable hydrogen.Massimiliano A. Cervo
In conclusion, many countries are investing in hydrogen, and there is a lot going on at the moment. However, most of them will need to present a clear strategy, with a stimulus plan, in order to attract private investors into shifting their business models into hydrogen. I would like to highlight that hydrogen is not a hype now, it is actually happening, and it is growing at an accelerated pace. Having said this, all the people working in hydrogen welcome you to the hydrogen economy.