According to the European Commission’s target set in 2020, electrolyser capacity needs to reach 6 GW by 2024, an increase of over 50 times in just 3 years.
Will this growth be achieved? We draw upon some of our latest hydrogen research in this whitepaper to assess the likelihood of this target being met.
While we do not expect a huge wave of new capacity to become operational in 2022, the decisions being made in 2022 by national governments and regulators will be critical in determining the rate of growth for 2023 onwards.
We identify some of the key issues and countries to watch, as it’s these that will determine whether we can achieve the speed of growth for the sector required to reach EU and national targets. We conclude that an optimistic outcome is a realistic expectation and that the 6 GW target is likely to be met.