States must increase hydrogen investment to help achieve IEA net zero

Hyundai’s new hydrogen fuel cell truck will be unveiled in Lucerne, Switzerland on October 7, 2020 at the Vehicles Lucerne (Swiss Transport Museum). REUTERS / Denis Balibouse

PARIS, October 4 (Reuters) – Governments should help reduce investment in hydrogen production and storage chains to zero, the International Energy Agency (IAA) said Monday.

States and private investors have come up with just about a quarter of the $ 1,200 billion needed by 2030 to develop and deploy hydrogen and become part of the global net zero strategy, according to a Paris-based organization.

Efforts should be made to make hydrogen available to more sectors and to develop technologies to make renewable energy cheaper, the report said.

Hydrogen is light, stored and energy-dense, and does not emit pollution or direct greenhouse gases when used as fuel. But the cost of production, and those who are concerned about how they are produced, have become a barrier to widespread use.

Hydrogen in renewable energy can be two to seven times higher than natural gas, says the report. He said new technologies and size economies will help close the gap.

“Almost all of the hydrogen produced today comes from fossil fuels, which emit nearly 900 million tons of CO2 emissions, equivalent to the combined emissions of the UK and Indonesia,” he said.

The global capacity of hydroelectric hydroelectric power plants has doubled in the past five years, with nearly 400 projects under construction or in the early stages of development, the report said.

These projects They need to put hydrogen supply at 8 million tons by 2030, which was less than 50,000 tons by 2030. But this is a tenth of the net needed by 2030 to reach zero net emissions by 2050.

A.D. By 2020, all hydrogen consumption was in the refining and industrial sectors, the report said. But it could play a big role in chemicals, steel, transportation and aviation – reducing emissions in all areas where it is currently challenging.

Although government policies are currently focused on production, they should include consumption in new sectors to increase the construction of storage, transmission and charging facilities, the report said.

Currently, 17 governments have hydrogen strategies, and more than 20 others are developing plans in 2019 from three countries.

Reporting by Forrest Crellin; Edited by Andrew Paradise

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