The US presents a ‘huge’ market for European manufacturers
European industry upbeat on Inflation Reduction Act
Companies on the continent have taken a leading position along the value chain for potential US projects, while the EU readies a ramp-up in policy support
The EU has complained that the US Inflation Reduction Act (IRA) puts European firms at a disadvantage and could divert investment across the Atlantic, but many in the industry are far more upbeat, especially as the EU prepares its own measures in response. Rheanna Johnston, policy adviser at energy transition thinktank E3G, is sceptical that the IRA could be harmful to the EU hydrogen industry. “The main barrier for hydrogen production in the EU are high electricity costs, and here the critical piece is to expand renewable energy,” Johnston says. “Regarding hydrogen technology, EU companies have a leading position along the whole value chain and have already committed to increasing manufactu
Also in this section
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
15 January 2025
The country’s technology-neutral position and competitive business environment mean it is looking to be surfing the second wave of the energy transition while others are still grappling with the first
14 January 2025
With abundant wind and sunshine, Africa is poised to lead in green hydrogen production. Yet high costs and financing challenges require global partnerships to unlock the continent's potential
