Collated below are key recent international hydrogen reports, which are intended as a useful resource, noting that these documents are ever-changing due to the rapidly evolving global hydrogen industry, and new reports released regularly. Select from the agencies listed below:
Investment in electrolysers is driven by higher deployment but also by higher financing costs
Investment in electrolysers is set to increase by close to 140% in 2024 to USD 5 billion. This is mainly because of new capacity additions as well as cost inflation in the sector and resulting increases in equipment prices and financing costs. Most of the electrolyser capacity coming online in the next few years aims to replace existing uses of hydrogen (refining and the chemical industry). These investments are generally perceived as lower risk than generating new potential sources of demand (e.g. mobility and conversion into low-emissions hydrogen-based fuels).
How high-quality carbon credits could accelerate the adoption of low-emissions hydrogen, sustainable aviation fuels and direct air capture
Achieving net zero requires rapid development of technologies such as lowemissions hydrogen, sustainable aviation fuels (SAF), and direct air capture and storage (DACS). The IEA and GenZero report explores how carbon credits can incentivise their deployment.
World hydrogen electrolyser capacity additions grew by 360% in 2023, according to the IEA's new report. The Clean Energy Market Monitor, aims to fill a gap by providing a timely, concise and up-to-date overview of clean energy deployment for 2023 for a selected group of technologies, including hydrogen electrolysers.
Low-emission hydrogen production can grow massively by 2030 but cost challenges are hampering deployment The number of announced projects for low-emission hydrogen production is rapidly expanding. Annual production of low-emission hydrogen could reach 38 Mt in 2030, if all announced projects are realised, although 17 Mt come from projects at early stages of development. The potential production by 2030 from announced projects to date is 50% larger than it was at the time of the release of the IEA’s Global Hydrogen Review 2022. Only 4% of this potential production has at least taken a final investment decision (FID), a doubling since last year in absolute terms (reaching nearly 2 Mt). Of the total, 27 Mt are based on electrolysis and low-emission electricity and 10 Mt on fossil fuels with carbon capture, utilisation and storage.
Hydrogen demand is growing, with positive signals in key applications
Hydrogen demand reached 94 million tonnes (Mt) in 2021, recovering to above pre-pandemic levels (91 Mt in 2019), and containing energy equal to about 2.5% of global final energy consumption. Most of the increase came from traditional uses in refining and industry, though demand for new applications grew to about 40 thousand tonnes (up 60% from 2020, albeit from a low base).
