Hydrogen Accelerator must replace, repurpose and reinvest
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Switching gear towards a rapid energy transition has never been more important. Hydrogenewables – the combination of clean hydrogen and renewable electricity – can cooperatively renovate our energy system and reduce the EU’s dependency. They deliver a more resilient EU energy system, reduce EU’s consumption of fossil fuels, and ensure security of supply. Now is the moment for the EU to accelerate the deployment of hydrogen technologies by replacing, repurposing, and reinvesting.
Replacing outdated technologies driving down emissions and supporting European industrial solutions. The EU is home to six out of the ten largest electrolyser manufacturers in the world, it is time clean energy pioneers are supported accordingly.
Repurposing natural gas assets and building a hydrogen infrastructure that encompasses storage, terminals and import assets. A clear and forward-looking strategy is essential to identify which gas pipelines must be made available for retrofitting and repurposing to carry pure hydrogen from day one.
Reinvesting revenues from the ETS via the Modernisation and Innovation Funds as well as making use of Carbon Contracts for Difference and State Aid. The Hydrogen Accelerator will need enormous funds as the private sector cannot deliver on its own.
Jorgo Chatzimarkakis, Hydrogen Europe CEO, commented: “We welcome today’s communication of the European Commission which highlights how hydrogen can ensure clean energy independence. Hydrogenewables are the cornerstone of a resilient economy and energy self-reliance. It is ever more important to repower the EU by replacing, repurposing and reinvesting.”
Walburga Hemetsberger, Solar Power Europe CEO, said: “The EU needs to become independent from Russian gas and oil as soon as possible. Solar is set to deploy over 30 GW, including 1.5 million solar rooftops, by the end of 2022. With the right frameworks in place, 1 TW of solar is within reach for Europe by 2030. European solar deployment has surpassed expectations year after year, succeeding in some of the most difficult market circumstances. We call on the European Commission to recognise the true power of solar, and set the ambition needed to achieve our climate and security goals.”
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Hydrogen Europe is the leading organization representing European based companies and stakeholders that are committed to moving towards a (circular) carbon neutral economy. With more than 300 companies and 30 national associations as members, we encompass the entire value chain of the European hydrogen and fuel cell ecosystem. Our vision is to propel global carbon neutrality by accelerating the European hydrogen industry and we are the industrial key partner of the Clean Hydrogen partnership. For further information, please visit www.hydrogeneurope.eu or contact secretariat@hydrogeneurope.eu.