Policy and industry priority actions from Hydrogen Council and McKinsey report

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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