Strengthened policy support for hydrogen in Europe and the US could take time to materialise
Slow year ahead for hydrogen FIDs?
Policy support for green hydrogen expected to take time to materialise for European and US projects this year
The number of hydrogen projects reaching FID in Europe and in the US is unlikely to start rising significantly until late this year or early 2024 as strengthened policy support announced in 2022 could take time to materialise. The EU’s first awards for hydrogen-related Important Projects of Common European Interest (IPCEI) schemes and announcement of a €3bn ($3.2bn) hydrogen bank, as well as the passage of the Inflation Reduction Act (IRA) in the US, were key policy breakthroughs for the industry. They are expected to unlock investment in a sector that is long on project proposals but short on FIDs. Last year, the EU approved state aid worth a combined €10.6bn under two IPCEIs—the first focu
Also in this section
23 January 2025
Russia, Poland and Romania are the biggest players when it comes to hydrogen projects in the region
23 January 2025
The UK leads Western Europe in terms of active hydrogen project market share, but developments are planned across Italy, Spain, Portugal, the Netherlands and the Nordic countries
23 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
