{"id":8901,"date":"2023-05-11T09:15:00","date_gmt":"2023-05-11T07:15:00","guid":{"rendered":"https:\/\/hydrogencouncil.com\/?p=8901"},"modified":"2024-02-29T15:04:03","modified_gmt":"2024-02-29T14:04:03","slug":"hydrogen-insights-global-project-funnel-gains-momentum-across-value-chain-and-geographies","status":"publish","type":"post","link":"https:\/\/hydrogencouncil.com\/en\/hydrogen-insights-global-project-funnel-gains-momentum-across-value-chain-and-geographies\/","title":{"rendered":"Hydrogen Insights: Global project funnel gains momentum across value chain and geographies"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"8901\" class=\"elementor elementor-8901\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26206753 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26206753\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-794b2377\" data-id=\"794b2377\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e464672 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"6e464672\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<ul>\n<li><em>Momentum continues to grow in hydrogen: +35% announced investments from May 2022 to January 2023, bringing total large-scale projects to &gt;1,000<\/em><\/li>\n<li><em>Deployment also faces headwinds from strained supply chains, inflation, higher interest rates and permitting delays \u2013 $29bn of investments have been committed, an increase of $7bn<\/em><\/li>\n<li><em>North America charges ahead, fuelled by new incentives under the Inflation Reduction Act, now accounts for 70% of committed clean hydrogen production<\/em><\/li>\n<\/ul>\n\n\n\n\n\n\n\n\n\n<p><strong>BRUSSELS, May 11, 2023<\/strong><em> \u2013 <\/em>The global hydrogen economy remains robust and growing from the project pipeline to deployment, according to an analysis of more than 1,000 projects published today by the <a href=\"https:\/\/hydrogencouncil.com\/en\/\">Hydrogen Council<\/a>.<\/p>\n<p><em>Hydrogen Insights 2023<\/em>, the latest update on the global hydrogen economy from the Hydrogen Council and McKinsey &amp; Company, highlights strong growth across the project funnel with total investments increasing by 35% from May 2022 to January 2023. 9% of total investments have reached final investment decision (FID), up by 30% since May 2022.<\/p>\n<p>The report tracks 1,040 projects globally representing $320 billion in direct investment between now and 2030, up from $240 billion. Approximately half of projects are focused on large-scale industrial applications, with the next largest segment (20%) related to mobility. In mobility, more than 1000 refuelling stations are now in operation globally. Total announced electrolyzer capacity stands at 230 GW in 2030.<\/p>\n<p>Momentum is spread globally, with Europe leading on announcements, while North America leads with committed investments ($10 billion). Europe ($7 billion) and China ($5 billion) follow, with growth in China being the highest at more than 200%.<\/p>\n<p>The industry is maturing during a time of strong headwinds which could slow deployment, including strained supply chains, labour shortage, energy performance contracting (EPC) capacity, increasing inflation and interest rates, and permitting delays.<\/p>\n<p>Despite progress, committed projects lag behind targets. By 2030, an increase of more than twentyfold would be required to track toward net zero objectives. Resources and equipment needs remain critical to ensure deployment of clean hydrogen supply projects, prevent infrastructure bottlenecks, and enable hydrogen-ready end user plants.<\/p>\n<p><strong>Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries, Ltd. and Co-Chair of the Hydrogen Council, <\/strong><strong>said: \u201cTaking action at the scale required is a learning journey for governments, industry and the public. Maintaining strong communication and relationships will help us to achieve our goals for the energy transition, together.\u201d<\/strong><\/p>\n<p><em>Hydrogen Insights 2023 <\/em>also takes a deep dive into North America, a region where there has been a 55% increase in announced investments since the previous <em>Hydrogen Insights<\/em> publication in September 2022. Production tax credits of up to $3\/kg available in the Inflation Reduction Act (IRA) could potentially help significantly accelerate clean hydrogen in the US with up to $3\/kg support.<\/p>\n<p><strong>Tom Linebarger, Executive Chairman and Chairman of the Board of Cummins Inc. and Co-Chair of the Hydrogen<\/strong> <strong>Council<\/strong>, <strong>said: \u201cIt\u2019s great to see ongoing momentum with hydrogen projects around the world. As we continue our quest to fight climate change, our focus needs to be on accelerating the action we take now.\u201d<\/strong><\/p>\n<p><strong>Bernd Heid, Senior Partner at McKinsey, said: \u201cNorth America has been a real engine of growth: it now accounts for 30% of committed funding and 70% of committed clean hydrogen production.\u201d<\/strong><\/p>\n<p>The full Hydrogen Insights 2023 report is available <a href=\"https:\/\/hydrogencouncil.com\/wp-content\/uploads\/2023\/05\/Hydrogen-Insights-2023.pdf\">here<\/a>.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f9a5b1 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"4f9a5b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a15a3c elementor-widget elementor-widget-text-editor\" data-id=\"0a15a3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>About Hydrogen Insights<\/strong><\/p>\n<p>Hydrogen Insights is the Hydrogen Council\u2019s perspective on the hydrogen industry\u2019s evolution. It summarizes the current state of the global hydrogen sector and actual hydrogen deployment.<\/p>\n<p>The Hydrogen Council and McKinsey &amp; Company co-author this publication. It represents a collaborative effort to share an objective, holistic, and quantitative perspective on the status of the global hydrogen ecosystem.<\/p>\n<p><strong>About The Hydrogen Council<\/strong><\/p>\n<p>The Hydrogen Council is a global CEO-led initiative that brings together leading companies with a united vision and long-term ambition for hydrogen to foster the clean energy transition.<\/p>\n<p>The Council understands that hydrogen has a key role to play in reaching global decarbonization goals by helping to diversify energy sources worldwide, to foster business and technological innovation as drivers for long-term economic growth, and to decarbonize especially hard-to-abate industrial sectors.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p>To find out more visit\u202f<a href=\"http:\/\/www.hydrogencouncil.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.hydrogencouncil.com<\/a>\u202fand follow us on Twitter\u202f<a href=\"https:\/\/twitter.com\/HydrogenCouncil\" target=\"_blank\" rel=\"noreferrer noopener\">@HydrogenCouncil<\/a>\u202fand\u202f<a href=\"https:\/\/www.linkedin.com\/company\/hydrogencouncil\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a>.\u00a0<\/p>\n<p><strong>Media Enquiries<\/strong><\/p>\n<p>Joanna Sampson, Communications Manager, Hydrogen Council<br \/><a href=\"mailto:joanna.sampson@hydrogencouncouncil.com\">joanna.sampson@hydrogencouncouncil.com<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The global hydrogen economy remains robust and growing from the project pipeline to deployment, according to an analysis of more than 1,000 projects published today by the Hydrogen Council.<\/p>\n","protected":false},"author":5,"featured_media":8969,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,141,76],"tags":[163],"class_list":["post-8901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-format-newsroom","category-media-release","category-newsroom","tag-media-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hydrogen Insights: Global project funnel gains momentum across value chain and geographies | Hydrogen Council<\/title>\n<meta name=\"description\" content=\"The global hydrogen economy remains robust and growing from the project pipeline to deployment, according to an analysis of more than 1,000 projects published today by the Hydrogen Council.\" \/>\n<meta name=\"robots\" content=\"index, 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