TapTechNews October 7th news, according to the Nikkei report today, the International Energy Agency (IEA) predicted in the 2024 global hydrogen energy market report that in the electrolyzers that can use renewable energy to produce 'green hydrogen', China will occupy nearly 70% of the global installed capacity.
TapTechNews note: 'Green hydrogen' means that no carbon dioxide is emitted during the process of generating hydrogen, and water is electrolyzed using renewable energy power through electrolyzers. Currently, the way of hydrogen production by burning fossil fuels is still the mainstream, and carbon dioxide will be emitted in this process.
According to the IEA report, among the 700,000-kilowatt electrolyzers put into operation in 2023, 80% are located in China and 12% are in Europe. And in 2020, China's share was less than 10%. The manufacturing capacity of electrolyzers of Chinese enterprises has reached 25 gigawatts per year, accounting for about 60% of the global total. The report pointed out that China's presence is increasing both in terms of installation and manufacturing.
The IEA said that currently, the global electrolyzer introduction projects that have made final investment decisions reach 20 gigawatts. It is expected that by 2030, the production of green hydrogen will expand to 5 times the current level.
According to the investment plans of energy enterprises, it is expected that by the end of 2024, the actual installed capacity of electrolyzers worldwide is 5 gigawatts. However, as of September 2024, the truly put into operation electrolyzers is only 0.205 gigawatts, accounting for only 4%.