The North East of Scotland is uniquely positioned to play a leading role in the development of a new UK hydrogen economy, which according to the UK Hydrogen Task Force is expected to be worth more than £18bn per annum by 2035 while supporting 75,000 jobs. Further, meeting a relatively modest target of producing 11 terawatt-hours of “blue” (produced from natural gas) and “green” (produced from renewable power) hydrogen by the middle of the next decade will cut significant greenhouse emissions from sectors including transport, heat and heavy industry. The hydrogen journey forms part of a wider drive towards net zero by 2045 in Scotland and, by 2050, across the UK. Just this week we saw the Committee on Climate Change (CCC) publish its landmark report, setting out a detailed roadmap for the net zero journey over the next three decades. The report has further highlighted the need for the expansion of low carbon energy supplies including hydrogen.
Energy Voice 10th Dec 2020 read more »
With talk of hydrogen-powered breakfasts as well as trains, ships and planes – have we reached a tipping point where this could become a reality? While the 10 Point Plan shows a strengthening of the government’s commitment to hydrogen, investors need a detailed strategy, a roadmap and mechanisms to assess the financial viability of investment prospects. Transitioning the UK to hydrogen power will be a huge challenge, but one that also offers significant opportunities for investment. However, the lack of clarity on future demand levels and hydrogen’s applications pose a high level of uncertainty for investors. According to a comprehensive new report from Deloitte on Hydrogen, production technologies alone will need to attract between £3.5 billion and £11.4bn of investment by 2035. Further investments will be required in carbon capture, hydrogen conversion, storage and transport infrastructure.
Energy Voice 11th Dec 2020 read more »