Making renewable hydrogen cost-competitive
Hydrogen will be a key enabler of climate neutrality in various sectors. In line with this insight, policy makers in Europe have been actively adopting hydrogen development strategies. Unfortunately, as clearly acknowledged in the European Commission’s 2020 Hydrogen Strategy, renewable hydrogen production is economically uncompetitive today – even with record carbon certificate prices – and is expected to remain uncompetitive until the 2030s. To put it succinctly: there is currently no natural market demand for fully decarbonized hydrogen, nor is such demand anticipated to materialise prior to the end of this decade.