Hydrogen demand grew by just 5 per cent last year and more policy support is needed for it to be more than a niche part of the energy mix, said Bernstein Research.
Investors in hydrogen and clean energy more broadly had “a disappointing year” last year, weighed down by rising interest rates and supply chain problems, according to Bernstein Research, which says the fuel has yet to prove whether it can become a significant part of the energy mix.
The Wall Street research firm pointed to major policy momentum for green hydrogen last year with the United States, Europe and China announcing significant policy support measures.In the US, a $US3 per kilogram production tax credit included in the Inflation Reduction Act will allow green hydrogen to be competitive in replacing existing grey hydrogen today, it said.
to have a chance of Australia realising its vast potential for renewables-based hydrogen production, to fuel low-carbon energy and industry in major Asian economies.
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