15:34 - 4.10.2024

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October 4, Fineko/abc.az. The International Energy Agency (IEA) has released a regular report on development of the hydrogen economy in the world Global Hydrogen Review 2024.

ABC.AZ reports that according to authors, volume of production/consumption of "low-carbon" hydrogen (low—emissions hydrogen) remains scanty - in 2023 they amounted to less than 1 million tons with total global consumption of hydrogen of 97 million tons. 

However, the IEA predicts that by 2030, production of such low-emission hydrogen could reach 49 million tons per year, and this is 30% more than last year's forecast of the Agency. 

This possible growth is explained by the enormous volumes of electrolysis projects that are being implemented or planned for implementation. The authors counted 520 GW of such. 
China is strengthening its position. Today, 60% of all electrolyzer production capacities are concentrated there. This is about 25 GW per year.
Low-carbon hydrogen will remain expensive in the short term, but "costs are expected to decrease significantly". 
According to the IEA, by 2030, "green" hydrogen will cost $2-9 per kg, and it will be possible to produce about 5 million tons at a cost competitive with hydrogen from fossil fuels.