A report by research and consultancy firm LCP Delta predicts that the total installed capacity of hydrogen projects across Europe could exceed 1GW for the first time in 2023, with around 2GW of projects set to be commissioned.
The From Hype to Investment: Hydrogen in 2023 whitepaper said that 7.3GW of green hydrogen projects are waiting to receive a final investment decision in 2023 to meet project go-live timelines, however added that a bottleneck of projects is occurring as project designers and investors await clarity on “rules of the game.”
“Europe has made significant progress in sourcing public and private investment for hydrogen projects, bet we also see a regulatory bottleneck emerging that is beginning to stall momentum,” said Brendan Murphey, Head of Hydrogen at LCP Delta.
Referencing the US’ passing of the Inflation Reduction Act (IRA), offering up to $3/kg in tax credits for low-carbon hydrogen production, the report said that Europe is “bogged down in getting the rules right while the US powers ahead.”
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