Hydrogen today represents a tiny fraction of the energy mix but its importance is expected to grow rapidly in the coming years as the European Union aims to create a Europe-wide market for clean hydrogen to drive the decarbonisation of heavy industry.
The price of clean hydrogen can be cut drastically by mid-century if the EU creates a dedicated market structure to develop the fuel, according to the industry. Environmental groups, meanwhile, are sceptical about the emergence of a hydrogen economy.
The way clean or low-carbon hydrogen is defined under the EU’s green finance taxonomy could have been more ambitious, with a higher emission saving threshold excluding all unabated fossil fuels from hydrogen manufacturing, says Jorgo Chatzimarkakis.
The announcement of the package to become fit for 55% CO2 reduction by 2030 was unusual. It took Commission President Ursula von der Leyen longer to come to the press room than ever before. Clearly, a sign that the decision …