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industry & Government news

DIGEST

THE GOVERNMENT HOPES TO ATTRACT
INVESTMENT IN 5GW OF H2 PRODUCTION BY 2030

HYDROGEN ECONOMY STRATEGY: GOVERNMENT

REVEALS PLANS FOR £4BN INVESTMENT BY 2030

THE GOVERNMENT HOPES to attract hydrogen could cover 20-35 per cent Matthew Fell, the Chief UK Policy
at least £4 billion of investment to the of the UK’s energy consumption by Director at the CBI, said the strategy
hydrogen economy by 2030 under plans 2050, providing a clean alternative included important steps for the
to produce the equivalent of enough to oil and gas in energy-intensive economy-wide hydrogen sector.
hydrogen to replace fossil fuel gas for industries, power and transport. “However, to truly capitalise
heating and cooking in about three It proposes a series of industry on those large-scale economic
million households in the UK. consultations to help establish a opportunities, and unlock the private
The government has published subsidy system to support large sector finance needed, firms will
its long-awaited plans for a UK-wide hydrogen projects to decarbonise areas now be looking for the government
hydrogen economy, which it says could that cannot run on electricity. to provide detailed policies and
be worth £900 million and create more However, The Guardian reports that standards for hydrogen production
than 9,000 high-quality jobs by the end plans remain dogged by uncertainty and application,” he said.
of the decade, rising to £13 billion and over how the government will The hydrogen projects under
100,000 new jobs by 2050. determine a fair subsidy for the development include green hydrogen
The strategy document lays out its multibillion-pound projects and schemes, which extract hydrogen
efforts to attract investment in five whether the cost will be shouldered from water, leaving only oxygen as a
gigawatts of hydrogen production through household bills or by the byproduct, and blue hydrogen, which
by 2030, which would mostly power Treasury. The government has extracts hydrogen from fossil fuel gas
heavy industry, as well as transport promised more clarity after an industry before trapping the greenhouse gas
and up to 70,000 homes. It suggests consultation later this year. emissions that are left behind.

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