IEA cuts growth forecasts for hydrogen-linked renewables
Deployment of solar and wind to power electrolysers seen slowing as green hydrogen projects struggle to reach FID
The IEA has cut its forecast for the deployment of renewables dedicated to powering electrolysers over the next five years by 35%, implying the growth of green hydrogen production will be slower than previously expected. The Paris-based IEA forecasts the global addition of 45GW green hydrogen–linked renewable capacity over 2023–28. Growth forecasts for all regions except China were lowered compared with projections made a year ago. The main reasons for the revisions were the “slow pace of bringing planned green hydrogen projects to financial close due to a lack of offtakers and the impact of inflation on production costs”, the agency said in its Renewables 2023 report. 45GW – Wind and
Also in this section
21 January 2025
The GEI database is tracking nearly 680 active hydrogen projects in Western Europe, with the region accounting for nearly half of the total market share in active hydrogen projects globally
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
20 January 2025
China and India are leading the region in terms of electrolyser development, while Australia accounts for nearly half of Asia’s active hydrogen projects
17 January 2025
Bank’s UK arm signs first deal to finance a green hydrogen developer, but cost and offtake pressures mean the sector remains too risky for many lenders