The energy transition will require a scaleup in investment to meet net zero by 2050
Hydrogen deployment ‘off track’ to meet net zero – Irena
The sector will need $170bn/yr in investment by 2050 for energy system to be consistent with 1.5°C limit to warming, says association
The energy transition is not on track to meet net-zero emissions by 2050 and limit global temperature increase to 1.5°C, warns the International Renewable Energy Agency (Irena) in a preview of its World Energy Transitions Outlook 2023 report. In addition to renewable energy capacity, electric vehicle rollout and CCS, hydrogen is highlighted as a sector that has significant gaps between current trends and the scale of development needed for a net-zero energy system. Irena expects electricity to be the main energy carrier in its 1.5°C scenario, accounting for more than half of final energy consumption, while hydrogen and its derivatives account for 14pc. “We simply cannot continue with i
Also in this section
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
16 July 2025
Major manufacturer cancels rollout of new hydrogen-powered vans and strengthens focus on battery electric and hybrid markets
16 July 2025
Oil and gas major calls for expression of interest in product from Lingen project ahead of startup in 2027
14 July 2025
Danish electrolyser manufacturer decelerates pre-FID work on planned Virginia plant despite renewed clarity over 45V tax credit
