2025: A banner year for hydrogen projects

Michael Puttré | Source: PV Magazine | Posted 01/01/2025

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Hydrogen as an alternative source of fuel and electricity made substantial inroads in 2024, with a number of significant projects coming to life on both the production and consumption side. Analysts see the new year as bringing more opportunities for the hydrogen industry, even under a possibly skeptical new Trump administration.

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The hydrogen industry saw significant growth in 2024 with various projects emerging in production and consumption sectors, signaling a positive outlook for the fuel's future. Despite uncertainties, analysts believe that hydrogen's connection to the oil and gas industry could still make it a viable asset class under a potentially skeptical Trump administration. Tax incentives for hydrogen development established during the Biden era are expected to persist, benefiting both the fossil fuel industry and alternative fuel applications.

Global hydrogen production, as reported by the International Energy Agency, is mostly derived from low-carbon sources like blue or green hydrogen. While blue hydrogen projects are forecasted to dominate the market, there is still progress in green hydrogen production, especially in regions like Europe and North America. The industry anticipates continued growth with the emergence of giga-scale green hydrogen projects in various countries driven by supportive government initiatives and renewable energy sources.

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Source Link: https://pv-magazine-usa.com/2024/12/31/2025-a-banner-year-for-hydrogen-projects/

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2025: A banner year for hydrogen projects

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