IEA’s Global Hydrogen Review 2023 published

The Global Hydrogen Review is an annual publication by the International Energy Agency that tracks hydrogen production and demand worldwide, as well as progress in critical areas such as infrastructure development, trade, policy, regulation, investments and innovation.

The report comes with some interesting findings and conclusions:

·       The global project pipeline adds up to 38 Mt by 2030 of low-emission hydrogen [+50% vs 2021] (17 Mt from early stages) with a 70/30 split in renewable vs. gas +CCUS

·       This compares to 27-35 Mt from government targets and 70 Mt in a net zero emissions scenario

·        Only 4% has taken FID reaching 2 Million ton [+100% vs 2021]

·       Costs rising due to higher electrolyzer CAPEX and higher #inflation (USD 1700/kW for alkaline, USD 2000/kW for PEM) [USD 750-1300/kW for China] leading to more conservative estimates for 2030 (USD 720-810/kW)

·       In terms of demand, the current total. adds 95 Mt (+3% vs 2021), out of which low-emission hydrogen is only 0.7%. For 2030, 150 Mt is projected (of which 70 Mt low-emission hydrogen)

·       -While the government targets for demand add up to 14 Mt.

Many more findings in the report itself and good summary in this interesting LinkedIn post.