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Hydrogen Strategy Update to the Market: July 2022

Abstract

Low carbon hydrogen is our new home-grown super-fuel which will be vital for our energy security and to meet our legally binding commitment to achieve net zero by 2050. The UK Hydrogen Strategy, published in August 2021, outlined a comprehensive roadmap for the development of a thriving UK hydrogen economy over the coming decade. In the British Energy Security Strategy published in April this year, the government doubled the UK’s hydrogen production ambition to up to 10GW, by 2030. This increased ambition cements our place firmly at the forefront of the global race to develop hydrogen as a secure, low carbon replacement for fossil fuels in the transition to greater energy security and net zero. Since the publication of the UK Hydrogen Strategy, we have continued to deliver on our commitments, setting out new policy and funding for hydrogen across the value chain, and bringing together the international community around shared hydrogen objectives to rapidly develop a global hydrogen economy. Hydrogen was a key component of the Net Zero Strategy, COP26 and the British Energy Security Strategy. The Hydrogen Investment Package and opening of the £240 million Net Zero Hydrogen Fund in April marked a major step forward in delivering government support to drive further private investment into hydrogen production in the UK. To keep industry informed on the government’s ongoing work to develop the hydrogen economy, we committed in the UK Hydrogen Strategy to producing regular updates to the market as our policy develops. In addition to offering an accessible ‘one stop shop’ of government policy development and support schemes, these updates will provide industry and investors with further clarity on the direction of travel of hydrogen policy across the value chain, so that government and industry can work together most effectively and with the necessary pace to build a world-leading low carbon hydrogen sector in the UK.

Related subjects: Policy & Socio-Economics
Countries: United Kingdom
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2022-07-01
2023-02-07
http://instance.metastore.ingenta.com/content/government4231
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