Hydrogen Europe welcomes Commission's Next Generation EU instrument
Today the European Commission presented its new recovery instrument: Next Generation EU. The Commission has also unveiled its adjusted Work Programme for 2020, which will prioritise the actions needed to propel Europe's recovery and resilience.
Jorgo Chatzimarkakis, Secretary General at Hydrogen Europe, welcomed the news adding that "We need a post COVID-19 green Marshall plan! This is a historic opportunity to realise a systemic change towards clean technologies like hydrogen. A massive support to hydrogen and hydrogen technologies will put us firmly on track to achieving ambitious targets for 2030 and climate neutrality in 2050."
In this framework, we take the opportunity to publish our latest document: "Green Hydrogen Investment and Support Report - Hydrogen Europe’s input for a post COVID-19 recovery plan", with data based on the FCH JU study Hydrogen Roadmap Europe and Hydrogen Europe’s paper on the 2x40 GW Green Hydrogen Initiative.
To build a hydrogen system and help the economy recover from the recession caused by the COVID-19 virus, with an increasing demand for clean hydrogen applications together with scaling up hydrogen production and building up hydrogen infrastructure, large scale investments are necessary.
These investments need to be initiated and stimulated through EU and governments policies and support. Moreover, these hydrogen investments can create a market to scale up, start-up and grow a competitive and innovative European hydrogen manufacturing industry. If Europe is at the forefront of these hydrogen developments, it can create a world-class manufacturing industry, especially in electrolyser, fuel cell and other hydrogen equipment and manufacturing applications.
In this report we estimate the total needed investments in building a hydrogen system up to 2030. Investments in renewable energy and hydrogen production, in hydrogen infrastructure and storage and in hydrogen applications are estimated, together with an indication of the financial support that is needed in this first phase of building a hydrogen system. These investments give insight into the markets for specific hydrogen products, equipment and applications. Based on these insights policies and support schemes could be designed, especially for a COVID-19 economic recovery plan.