This Country Has the Largest Investment in Hydrogen Energy

Economics & Macro

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Adi Ahdiat 06/09/2022 18:30 WIB

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Based on IEA data, the largest investment commitment for hydrogen energy development in 2021 came from Germany, reaching US$10.3 billion.

9 Countries with the Largest Investment Commitments to Hydrogen Energy Development (2021)

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This Country Has the Largest Investment in Hydrogen Energy

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9 Countries with the Largest Investment Commitments to Hydrogen Energy Development (2021)

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According to the International Energy Agency (IEA), hydrogen fuel plays a crucial role in supporting the transition from fossil fuels to renewable energy sources.

The IEA stated that in 2020, the use of this type of fuel was less than 0.1% of the world's total final energy consumption. However, its share is projected to increase steadily in the coming decades.

"By 2030, (hydrogen fuel use) will reach 2% of total final energy consumption, and 10% by 2050," the IEA explained in its *Global Hydrogen Review 2021* report.

Hydrogen fuel reportedly has very minimal emissions and can be an energy source for electronic devices, electric vehicles, and large-scale power generation.

However, the production process of this type of energy is still very expensive, thus requiring investment to encourage further research and development.

Based on IEA data, the largest global investment commitment for hydrogen energy development came from Germany, reaching US$10.3 billion in 2021.

In Asia, the largest investment commitment came from Japan, at US$6.5 billion.

"Governments play a key role in setting the research agenda (for hydrogen), as well as adopting policies that encourage the private sector to innovate and bring this technology to market," the IEA explained.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."