Hydrogen growth to accelerate from 2030s – BP
The major’s latest outlook anticipates slow growth for low-carbon hydrogen this decade, with demand expected to rise tenfold between 2030 and 2050 in two of three scenarios
The low-carbon hydrogen sector is likely to see limited growth this decade, with acceleration expected in the 2030s and 2040s, according to BP’s latest Energy Outlook report. The report models three scenarios. New Momentum is based on the current trajectory of the energy industry given the Russia-Ukraine war and passage of clean energy incentives in the US’ Inflation Reduction Act, while the more optimistic Accelerated and Net Zero scenarios are based on actions necessary to cut global CO₂ emissions by 75pc and 95pc respectively by 2050. 15-20pc – Additional power generation needed to produce green hydrogen in BP’s Accelerated and Net Zero scenarios New Momentum anticipates 165mn t o
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