Global Hydrogen Report 2024

Global Hydrogen Report 2024

Abstract

The Global Hydrogen Review “Global Hydrogen Review 2024” is an annual publication by the International Energy Agency that tracks hydrogen production and demand worldwide, as well as progress in critical areas such as infrastructure development, trade, policy, regulation, investments and innovation.
The report is an output of the Clean Energy Ministerial Hydrogen Initiative and is intended to inform energy sector stakeholders on the status and future prospects of hydrogen. Focusing on hydrogen’s potential role in meeting international energy and climate goals, the Review aims to help decision makers fine-tune strategies to attract investment and facilitate deployment of hydrogen technologies at the same time as creating demand for hydrogen and hydrogen-based fuels. It compares real-world developments with the stated ambitions of government and industry.
This year’s report has a special focus on Latin America and includes analysis on recent developments of low-emissions hydrogen projects in the region and how to unlock demand and move towards project implementation. In addition, the report assesses in detail the greenhouse gas emissions associated with different hydrogen supply chains.

Podcast

Hydrogen: A Race Against Time

The International Energy Agency’s (IEA) Global Hydrogen Review paints a clear picture: the world urgently needs to accelerate the transition to clean energy, and green hydrogen is a cornerstone in this puzzle.

Why hydrogen? Its ability to store renewable energy and its versatility across various sectors, from industry to transportation, make it an ideal candidate to decarbonize our economy. Electrolysis, the process of producing hydrogen from water using renewable electricity, is experiencing exponential growth. However, the IEA warns that current production is far below projected demand.

Challenges on the road

While the potential of green hydrogen is immense, there are challenges to overcome. One of the main ones is building the necessary infrastructure for its production, transportation, and storage. Additionally, it’s crucial to ensure that hydrogen production is truly sustainable, minimizing water consumption and avoiding indirect carbon emissions.

Latin America: A region with a future

Latin America, with its abundant renewable resources and growing energy demand, has a unique opportunity to become a global leader in green hydrogen production. Countries like Chile and Argentina are developing ambitious projects in this sector, leveraging their vast solar and wind resources.

What can we do?

To accelerate the transition to a hydrogen-based economy, we need to:

  • Invest in research and development: Technological innovation is key to reducing production costs and expanding hydrogen applications.
  • Foster public-private partnerships: Governments should establish clear and attractive policies to encourage private investment in hydrogen projects.
  • Develop the necessary infrastructure: Building hydrogen distribution networks and refueling stations is essential for widespread adoption.
  • Promote education and awareness: It is important to inform the public about the benefits of green hydrogen and its role in combating climate change.

Conclusion

The IEA’s report shows us that green hydrogen has the potential to transform our energy system and combat climate change. However, to seize this opportunity, we need to act swiftly and decisively. The future of our planet depends on it.

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