Hydrogen growth not consistent with net zero – DNV
The fuel will meet only 5pc of global energy demand in 2050, far less than the 15pc needed to be consistent with net-zero scenarios
Hydrogen will meet only 5pc of global energy demand in 2050, roughly a third of the level consistent with a net-zero pathway, according to risk management firm DNV’s latest Energy Transition Outlook. This level of demand will require 250mn t/yr of production by 2050, an estimate far lower than other forecasts. Scenarios outlined by other organisations estimate 700-800mn t/yr of production by 2050 depending on future policy. DNV foresees a 27.5pc share for blue hydrogen, 25.5pc for grid-connected electrolysis, 17.5pc for dedicated solar-based electrolysis, 13pc from dedicated wind-based electrolysis and 1pc from dedicated nuclear-based electrolysis. “Blue hydrogen will gain significant
Also in this section
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter
16 April 2024
European Commission to provide list of approved certifiers in a move that is expected to help unlock investment in the sector
9 April 2024
Higher country-level risk and green hydrogen project execution risks are driving up financing costs, according to the Hydrogen Council and McKinsey
4 April 2024
EET’s $2.4b plan to decarbonise major refinery in northwest England hits key milestone with CO₂ pipeline approval