Why invest heavily in hydrogen now?
The EU wants to be climate-neutral by 2050. Achieving that goal requires drastic changes in the way we produce, store, transport and use energy and make it accessible. We can use electricity (renewable or otherwise) for large parts of the economy, such as the built environment and passenger transport. However, in sectors like the steel industry, chemical industry, heavy transport, shipping and aviation, direct electrification is often not physically feasible or economically viable. Green hydrogen is a solution.
The challenge is enormous, the time limited
Right now, green hydrogen only plays a small role in the energy system. To develop the hydrogen economy, completely new value chains will need to be built. The challenge is enormous in terms of production, storage and transport, as well as investments and switching end users over to hydrogen. Existing industries will have to transform their production processes and business models.
We only have thirty years left, which is why the large-scale development of hydrogen production must start now. Accelerating and adopting a large-scale approach helps us cut costs and seize economic opportunities.
Collaboration is essential
The development of a green hydrogen market requires synchronised development of all parts of the value chain, guided and facilitated by targeted government policy. Close cooperation between customers, developers, suppliers and government bodies is essential. The coordinated accelerated development of the hydrogen economy to gigawatt scale by implementing a specific wind-for-hydrogen approach in line with the Dutch Climate Agreement is what NortH2 is all about.
The goals of NortH2
- 2030: We can produce 4GW of green hydrogen, meaning that NortH2 is contributing significantly to the achievement of the Dutch Climate Agreement objectives. We are reducing the production costs of green hydrogen through scaling up and integration. And we are helping to set up a hydrogen backbone in north-western Europe.
- 2040: The consortium is also deploying offshore electrolysis on a large scale to exploit the wind potential of more remote parts of the North Sea. And with more than 10GW of green hydrogen, we are making a significant contribution to the green hydrogen market.
- 2050: Having established itself as a key commodity in a fully functioning hydrogen market, green hydrogen is indispensable in the climate-neutral, affordable, reliable energy system of 2050.