IEA downgrades predicted renewable power use for hydrogen production
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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