Large spending increases in renewable energy, as well as on carbon capture and storage, will be necessary to generate hydrogen needed later this century, according to Norway-based consultant DNV in its new Hydrogen Forecast 2050.
Hydrogen will account for 0.5% of the global energy mix by 2030, rising to 5% mid century, says the firm's report. To meet greenhouse gas reduction targets set in the Paris Agreement, hydrogen production would need to reach 15% by 2050, it adds.