"Green hydrogen market depends on public spending" - German energy company stresses need for government support
The development of a green hydrogen market in Germany still depends to a large extent on public spending, energy supplier E.ON said. Projects under construction or equipped with final investment decisions have increased to 9% from 3% of the 2030 target of 11.3 gigawatts (GW) of electrolysis capacity. But the only factor speeding up the process is the support promised under government schemes, according to E.ON.
Germany wants to build electrolysis capacity to produce green hydrogen from wind and solar power to clean up the carbon footprint of industries such as steel and cement production, and to replace fossil fuels.
E.ON said rigid or absent hydrogen regulation makes it harder for potential investors to understand the industry's risks and opportunities. High electricity prices also make future hydrogen costs look prohibitively high.
If Germany does not manage the move to hydrogen, its industry may lose the chance to compete successfully with countries such as the United States and China in global markets.
Domestic electrolysis capacity has grown about 68% since spring to 111 megawatts (MW), the six-month survey showed. E.ON also said the Berlin government's import targets may be achievable. The government expects hydrogen demand of 95-130 terawatt hours (TWh) per year by 2030, of which 50%-70% will be imported.
Plans for a major hydrogen pipeline network, complementing those for seaborne imports, have attracted a 24 billion euro ($25.31 billion) loan from state lender KfW.
"However, the progress of the hydrogen economy remains weak," E.ON pointed out.
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