Clean hydrogen production is set to grow dramatically, increasing 30-fold by the end of 2030, according to new analysis from BloombergNEF (BNEF).
North America Leads the Way
BNEF predicts that North America will be the leading region in hydrogen production, mainly driven by the deployment of blue hydrogen. Blue hydrogen is produced using natural gas, with carbon capture and storage to reduce emissions.
Impressive Growth, Yet Targets May Be Missed
While this growth—from around 500,000 tonnes a year to 16.4 million tonnes annually—is impressive, it will still fall short of meeting government targets. The projected production will only cover 17% of the current demand for grey hydrogen, which is made from fossil fuels without carbon capture.
Key Takeaways
- Massive Increase: Clean hydrogen production will increase 30 times by 2030.
- North America’s Leadership: The region will lead in production, focusing on blue hydrogen.
- Shortfall in Targets: Despite significant growth, production will only meet 17% of grey hydrogen demand.
This analysis highlights the need for continued investment and innovation in clean hydrogen technologies to meet future energy and environmental goals.
