India and China Lead Global Push for Green Hydrogen Amid Western Retreat
India, China place strategic bets on clean energy out of favour in West
Business Standard
Image: Business Standard
India and China are making significant investments in green hydrogen, with India targeting 5 million metric tons annually by 2030, backed by $2.1 billion in subsidies. In contrast, the West has scaled back its ambitions in this sector due to cost challenges. Both countries aim to dominate the emerging hydrogen market through strategic initiatives and investments.
- 01India aims for 5 million metric tons of green hydrogen by 2030, five times the current global market size.
- 02China invested $3.7 billion in green hydrogen production last year, more than double the US investment.
- 03India's production costs have dropped to around ₹279 (approximately $3) per kilogram, with expectations to reach near $2 by 2032.
- 04Both countries are leveraging state support to drive down costs and stimulate demand in the hydrogen market.
- 05The West has retreated from ambitious green hydrogen goals due to persistent cost constraints.
Advertisement
In-Article Ad
India and China are making substantial investments in the green hydrogen sector, positioning themselves as leaders in a market that the West is retreating from. India, with a commitment of $2.1 billion, aims to produce 5 million metric tons of green hydrogen annually by 2030, significantly surpassing current global output. Meanwhile, China invested $3.7 billion last year, more than double the US's efforts, and is expected to have 2.6 million tons of production capacity by 2031. Both countries are implementing strategies to reduce production costs, with India achieving a price of ₹279 (around $3) per kilogram, targeting a reduction to near $2 by 2032. The focus on green hydrogen is part of broader energy security strategies, as both nations seek to dominate the emerging market while the West has scaled back its ambitions due to cost challenges.
Advertisement
In-Article Ad
The push for green hydrogen in India could lead to lower energy costs and increased energy security, benefiting industries reliant on hydrogen, such as fertilizers and steel.
Advertisement
In-Article Ad
Reader Poll
Do you believe green hydrogen will become a major energy source in the next decade?
Connecting to poll...
Read the original article
Visit the source for the complete story.