DNV study on the prospects for a hydrogen economy: High expectations and significant barriers
In July, DNV published a study on the path to a global hydrogen economy. The study confirms significant expectations for a future hydrogen market.
Hydrogen will make up half of their economy by 2030
Among industry leaders and experts currently involved in the production and/or use of hydrogen, 26% believe that hydrogen will make up half of their economy in 2030 compared to 2% today. The study also shows that there is reasonable agreement in the expectations of producers and users of hydrogen, and that investments made today are reasonably balanced between production and consumption in order to provide security for both parties.
Lack of investment is one of the biggest barriers
The study points out that the biggest barriers are the lack of investment in infrastructure for hydrogen, the high cost levels for hydrogen and a too slow implementation of regulations and carbon prices that provide the necessary investment signals to industry leaders and experts.
The study is based on a survey of 1124 people across multiple countries, industries and professions, as well as seven in-depth interviews with industry leaders.
DNV’s analysis: 85% of hydrogen used in 2030 will be from natural gas with CCS
Although the necessity of both blue and green hydrogen seems to be accepted by the majority of those who participated in the survey, these expectations are highly subjective and depend on the geographical areas in which they operate. DNV’s own analysis suggests that 85% of hydrogen used in 2030 will be from natural gas with CCS. The results from the study indicate a far more balanced expectation of the use of blue vs green hydrogen – including among the companies involved in the development of blue hydrogen.
This is part of the CCS Environmental Analysis for June and July 2021, prepared by Gassnova's analysis team. Read the whole analysis here.