The International Energy Agency (IEA) has downgraded its predicted renewable power capacity dedicated to hydrogen production between 2023 and 2028 to 45GW.
Providing a “reality check” on the momentum behind renewable-based hydrogen, the IEA said of all the global projects announced to use renewables for hydrogen production this decade, only 7% of the proposed capacity is expected to come online by 2030.
“The slow pace of projects reaching an investment decision combined with limited appetite from off-takers and higher production costs have led to slower progress on many projects,” the agency said.
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