States must raise hydrogen investment to help reach net zero – IEA

October 4, 2021

Governments need to step up investment in hydrogen production and storage chains to help cut net emissions to zero, the International Energy Agency (IEA) said on Monday.

States and private investors had so far only come up with about a quarter of the $1,200 billion needed by 2030 to develop and deploy hydrogen and make it part of global net zero strategies, the Paris-based organisation said.

Efforts should be directed on getting hydrogen into more sectors and developing technologies to make it cheaper to produce with renewables, its report added.

Hydrogen is light, storable and energy-dense, and produces no direct emissions of pollutants or greenhouse gases when used as a fuel. But the cost of production, and worries over how it is produced, have been a barrier to expanded use.

Hydrogen produced with renewable supplies can cost between two to seven times as much as producing it from natural gas without carbon capture, the report said. New technologies and economies of scale could help close the gap, it added.

Read more here.

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