Low-carbon hydrogen demand to grow tenfold between 2030 and 2050 in BP’s more optimistic scenarios
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
Also in this section
14 January 2025
With abundant wind and sunshine, Africa is poised to lead in green hydrogen production. Yet high costs and financing challenges require global partnerships to unlock the continent's potential
14 January 2025
The continent’s largest economy sees an opportunity to join the global export market, but funding gap and lack of regulatory framework present challenges
13 January 2025
IEA urges Netherlands to give clean hydrogen investors greater certainty over industrial consumption
10 January 2025
Country’s emerging clean hydrogen sector faces its first big political test as centre-right party leads in polls
