Welcome to the new Energy Central — same great community, now with a smoother experience. To login, use your Energy Central email and reset your password.

Energy Business
Tariq Siddiqui
Tariq Siddiqui
Top Contributor
·Posted in Energy Business
Thu, Feb 23

Tracking the hydrogen market: from policy to project pipeline | Wood Mackenzie

Low-carbon hydrogen project capacity announcements continued to grow in scale and geographical diversity in 2022. After a record 12 Mtpa of project capacity announcements in Q1, total announced capacity reached 71.4 Mpta in 2022. 

 

  1. The year was marked by the energy crisis and a slew of policy announcements, leading to a plunge in the number of project announcements. 
  2. The US led project announcements in 2022 with a total of 7.17 Mtpa.
  3. The slowdown in project announcements was counterbalanced by record electrolyser manufacturing announcements.

  4. Policy-wise, hydrogen strategies continued to evolve and adapt to the market in 2022.

  5. The Inflation Reduction Act has prompted some markets to develop similar incentives in an effort to remain competitive, and others to object.

    1. US inflation Act; announcing a 45V production tax credit (PTC). Qualifying hydrogen facilities can obtain a 10-year PTC of up to US$3/kg, the most generous tax incentive to date.

 

Â