The UK published its long awaited Hydrogen Strategy in August 2021 alongside a wider package of policy documents on hydrogen, including a consultation on a hydrogen business model to stimulate private investment in new low carbon hydrogen projects, a consultation on the design of the £240 million Net Zero Hydrogen Fund (NZHF) confirmed out to 2025 to support new hydrogen production projects, and a consultation on a UK Low Carbon Hydrogen Standard that will define what is meant by low carbon hydrogen.
As a result of its geography, geology, infrastructure and capabilities, the UK is in a strong position to expand both its demand and supply of low carbon hydrogen. The Hydrogen Strategy identifies that as a global leader in commitment to decarbonisation (both in terms of policy commitments and confirmed emission reductions), the UK is in a good position to become a hydrogen pioneer on the global stage. The UK Government’s analysis suggests that by 2030, the UK hydrogen economy could be worth £900million and support over 9,000 jobs, and by 2050, under a high hydrogen scenario, the hydrogen economy could be worth up to £13 billion and support up to 100,000 jobs. The Hydrogen Strategy attempts to mobilise the cash required to achieve these goals.
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