Tuesday (September 20) saw the release of the Hydrogen Council and McKinsey report, Hydrogen Insights 2022, which highlighted that approximately only 10% of hydrogen projects have reached final investment decision (FID)s are under construction or are operational.
Despite increases in the value of FIDs from $2bn to $22bn in the latter half of 2021, the new report concluded it is significantly slower than growth announcements which total 680 large-scale projects at a cost of $240bn in direct investment.
The report has compounded a need for more work to be done from both policymakers and industry players to ramp up FIDs to close an investment gap, which the report estimated to be around 85% to the $200bn in spending through to 2030.
Here we take a deeper dive into the key policy and industry priority actions for 2022 to 2023 from the report’s executive summary.
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