The total installed capacity of hydrogen installations across Europe could exceed 1GW for the first time, according to a new report from LCP Delta.

Hydrogen projects in the UK and Germany will play a pivotal role in creating this significant milestone for the European renewable energy market.

Both have over 400MW of projects in their 2023 pipeline, potentially bringing the total installed capacity across Europe from around 236MW last year to over 2GW in 2023.

With increased production, LCP Delta believes that the international market will begin exploring options for price setting for hydrogen.