European green hydrogen market faces obstacles - High production costs and uncertainty, among the biggest challenges
The European Union's goal of producing 10 million tons of renewable hydrogen by 2030 is at odds with current market realities due to fuel production costs and regulatory uncertainties, according to a recent report from the bloc's energy regulators.
The Agency for the Cooperation of Energy Regulators (ACER) outlines market problems as the EU tries to promote hydrogen projects to reduce dependence on fossil fuels.
But critics argue that investments in hydrogen infrastructure will end up supporting “dirty” hydrogen or even natural gas, given the limitations of the hydrogen market and the high energy costs of producing the gas cleanly.
Renewable hydrogen, or "green hydrogen," is produced using electrolyzers that split water into hydrogen and oxygen. These can be powered by renewable sources such as solar, wind, and hydroelectric power.
However, despite a 51% annual increase in installed electrolyser capacity in the EU by 2024, the targets remain almost unattainable.
The data reveals that by 2024, 104 megawatts of electrolyzer capacity had been put into operation, bringing the total installed capacity to 308 megawatts, double compared to 2022, while another 1.8 gigawatts are currently under construction.
But the EU's targets include fully installing 40 gigawatts of capacity by 2030, meaning that current capacity constitutes only a fraction of what is intended to be built by the end of the decade.
The regulator estimated that up to 50% of the costs of producing renewable hydrogen are linked to electricity prices. Experts explain that accelerating the decarbonization of the energy sector will reduce costs and could bring a fundamental change in the production of green hydrogen.
According to them, faster permitting procedures and faster grid connections, for both electrolyzers and renewable energy projects, are key to increasing production.
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