In the UK, RenewableUK has published a new guide, “Demystifying the Hydrogen Business Model for Electrolysis”, which aims to explain to investors and policy makers how the Government’s Hydrogen Production Business Model works, the challenges which come with it and the reforms which are necessary to ensure the UK can rapidly deploy the first tranche of major green hydrogen projects needed to catalyze cost reduction.
The UK Government has set a target of 10 gigawatts (GW) of low carbon hydrogen by 2030, half of which will be green hydrogen generated from renewables.
RenewableUK noted that the document aims to guide developers and key stakeholders through the business model, which has been criticized for being complex and difficult to understand for new entrants.
RenewableUK’s Senior Policy Analyst for Emerging Technologies Laurie Heyworth said: “The 2020s are the crucial formative years for the UK’s green hydrogen economy. The next couple of allocation rounds will be essential in establishing the first major wave of large-scale operational projects, attracting private investment and building up UK-based supply chains.”
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