Governor Michelle Lujan Grisham on Tuesday announced the introduction of House Bill 4, the Hydrogen Hub Development Act,...
Hydrogen investment pipeline has grown to $500bn says new Hydrogen Council report
An updated “Hydrogen Insights” report has suggested that the hydrogen investment pipeline has grown to $500bn in response to government commitments to deep decarbonisation.
The report, published today (July 15) by the Hydrogen Council in collaboration with McKinsey & Company has revealed that investments in ‘mature’ hydrogen projects have doubled since last February.
The report suggests that globally 131 large-scale projects have been announced since February 2021 taking the total amount to 359 with the estimated total investment in these projects and the whole value chain being an estimated $500bn through 2030.
$150bn, or 30% of the investment, has been in projects considered ‘mature’ meaning that the investment is either in a planning stage, has passed a final investment decision, or is associated with a project that is already under construction, commissioned, or currently operational.
With the total investment, low-carbon hydrogen production capacity will exceed 10 million tonnes per year by 2030, an increase of over 60% on the previous February reported project level.
From this, 70% of the production capacity will come from renewable energy sources, while the other 30% is low-carbon hydrogen generated by fossil fuels and carbon capture storage (CCS).
Read more here.
New Mexico to boost clean energy economy with Hydrogen Hub Development Act
Bill Expanding Utility Production, Sale of Hydrogen Passes House Committee
A bill in the [Washington State] Legislature that would expand the ability of public utilities to produce, sell...