Policymakers urge patience in Germany’s hydrogen transition
Despite investor apprehensions, German industry executives and policymakers, as highlighted at a recent Handelsblatt conference, are steadfast in their commitment to transitioning from fossil fuels to hydrogen energy.
They believe regulatory support will facilitate a large-scale shift to renewable hydrogen energy in the next decade.
Germany aims to achieve a national electrolysis capacity of 10 GW by 2030 and has recently passed an acceleration bill to aid the decarbonisation of the EU’s leading industry.
However, critics point to the mere 300 MW of projects that have reached final investment decisions as a sign of potential failure and question the reliance on future bulk imports.
They warn that if Germany fails to transition to hydrogen, it could jeopardise the EU’s ability to compete with the US and China in this field.
Attribution: Reuters.
