Underpinned by a global shift of regulators, investors, and consumers toward decarbonization, hydrogen (H2) is receiving unprecedented interest and investments. At the beginning of 2021, over 30 countries have released hydrogen roadmaps, the industry has announced more than 200 hydrogen projects and ambitious investment plans, and governments worldwide have committed more than USD 70 billion in public funding. This momentum exists along the entire value chain and is accelerating cost reductions for hydrogen production, transmission, distribution, retail, and end applications.
This report provides an overview of these developments in the hydrogen ecosystem. It tracks deployments of hydrogen solutions, associated investments and the cost competitiveness of hydrogen technologies and end applications. Developed collaboratively by the Hydrogen Council and McKinsey & Company, it offers a fact-based, holistic, quantitative perspective based on real industry data.
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