Germany Announces €1.5 Billion in Support for Hydrogen Market
9 Articles
9 Articles
The market for hydrogen is only slowly coming into operation. Minister Reiche now wants to counter with billions of aid for industry and incentives for climate-friendly steel.
The German government has announced a stimulus package of at least €1.5 billion to revitalize the hydrogen market, which has lagged behind expectations, and accelerate the industry's transition to lower-carbon production. The new program aims to cover companies' additional costs, support the future conversion of gas power plants to hydrogen, and promote low-carbon steel production.
The prices for hydrogen are falling more slowly than expected, the Ministry of Economics admits. A ten-point plan should now push the market: with funding, leading markets and imports from the neighborhood. The hydrogen association praises the plan, but sees the real problem elsewhere. The article Hydrogen remains expensive: What Reich 10-point plan should change first appeared on ingenieur.de - job market and news portal for engineers.
Germany’s hydrogen strategy is shifting from building supply to securing demand
Germany’s new hydrogen package addresses a problem that infrastructure announcements and production targets have struggled to resolve: industrial customers cannot justify switching fuels while cleaner hydrogen remains substantially more expensive than conventional alternatives. Reserving at least €1.5 billion for hydrogen projects within the next carbon-contract auction shifts attention toward creating dependable demand. Alongside support for p…
Germany's Ministry of Economy and Energy has announced a stimulus package of at least €1.5 billion to revive the country's struggling hydrogen market and enable industrial companies to switch to the new fuel.
Germany Announces €1.5 Billion in Support for Hydrogen Market
Germany’s Federal Ministry for Economic Affairs and Energy has announced at least €1.5 billion in funding to accelerate the development of the hydrogen market, as part of a package of 10 measures aimed at expanding hydrogen production and use across industry and energy. The measures were announced on October 19. The funding will be allocated …
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