Outlook 2024: Crunch time for hydrogen
The nascent low-carbon hydrogen sector needs 2024 to be a breakthrough year if it is to get within striking distance of the production targets set by policymakers
Hydrogen policymakers around the world are pinning their hopes for 2024 on a sharp rise in the number of proposed production projects reaching FID, as 2030 supply targets start to look increasingly challenging. Only about 4% of announced projects have so far entered construction or hit FID as lenders and investors hold back because of uncertainty around long-term demand, production costs, availability of state subsidies and the lack of a transportation and storage infrastructure. This reluctance to finance projects has left a “funding gap” of about $380b through 2030, according to some estimates. Much faster progress is needed in 2024 to mature hundreds of proposals into bankable projects an
Also in this section
14 May 2025
Defining moment for US hydrogen sector as House Republicans seek termination of green tax credits
13 May 2025
Existing specifications have been a good starting point for standardisation of hydrogen quality, but they need rethinking—a 99.5 mol-% specification is a promising candidate
12 May 2025
The sector needs a standard covering hydrogen quality for the entire value chain, but no single hydrogen quality covers the needs of all stakeholders
9 May 2025
Hydrogen quality is an increasingly important area for the sector. Though well-established standards are in place, they typically cover only certain parts of assets and value chain
