China and India Lead Global Push for Green Hydrogen Amid Western Retreat
China, India place strategic bets on clean energy out of favour in the West
The Economic Times
Image: The Economic Times
China and India are making significant investments in green hydrogen, with China committing $3.7 billion and India targeting 5 million metric tons annually by 2030. This strategic shift comes as Western nations scale back their hydrogen ambitions due to cost challenges, highlighting the contrasting energy strategies of the world's two most populous countries.
- 01China invested $3.7 billion in green hydrogen production last year, aiming for 2.6 million tons annually by 2031.
- 02India's National Green Hydrogen Mission aims for 5 million metric tons of green hydrogen by 2030, backed by $2.1 billion in subsidies.
- 03Both nations are leveraging state support to drive down costs and stimulate demand for green hydrogen.
- 04China's production capacity for renewables-based hydrogen doubled to 250,000 tons last year, surpassing its 2022 targets.
- 05India's green hydrogen production costs have fallen to around ₹279 (approximately $3) per kilogram, with expectations of further reductions.
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China and India are positioning themselves as leaders in the green hydrogen market, significantly investing in renewable energy technologies while the West retreats from ambitious hydrogen goals. China invested $3.7 billion in green hydrogen production last year and aims to produce 2.6 million tons annually by 2031. The country has rapidly increased its hydrogen production capacity, doubling it to 250,000 tons last year, and is projected to attract $26 billion in investments by 2031. Meanwhile, India is aggressively pursuing its National Green Hydrogen Mission, with a goal of producing 5 million metric tons of green hydrogen by 2030, supported by $2.1 billion in subsidies. The cost of producing green hydrogen in India has decreased to around ₹279 (approximately $3) per kilogram, with ambitions to lower it further to near $2 by 2032. Both nations are leveraging state support to stimulate demand and drive down costs, positioning themselves to capture significant shares of the global green hydrogen market.
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The push for green hydrogen in China and India could lead to enhanced energy security, reduced dependence on fossil fuels, and job creation in the renewable energy sector.
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