Photo: Adam Glanzman/Bloomberg NewsGlobal efforts to ramp up clean hydrogen are threatened by rising cost pressures and lagging policy support despite strong momentum across the sector, according to the International Energy Agency.
The number of low-emission hydrogen projects continues to grow rapidly, but installed capacity remains low as developers delay or put off plans due to increasing manufacturing, construction and installation costs, the Paris-based organization said in its latest hydrogen report.
Preview Subscribe“Political momentum behind low-emission hydrogen remains strong but deployment isn’t taking off,” the IEA said.
In recent years, policy makers have rolled out financial tools such as tax credits or funding programs to support developers.
“Governments need stronger policy action on multiple fronts to tap in to the opportunity that low-emission hydrogen offers,” the IEA said.
Persons:
Adam Glanzman, Giulia Petroni
Organizations:
Bloomberg, Global, International Energy Agency, Business, giulia.petroni@wsj.com
Locations:
Paris