Tuesday, October 15, 2024.
“Hydrogen and carbon capture and storage (CCS) are indispensable for a transition aligned with the Paris Agreement.”
This quote seems within the preface of the newest Power Transition Outlookfrom Norwegian danger consultancy DNV Det Norske Veritas. Carbon Credit score Markets released this report yesterday.
Alternatively, the identical report indicated that DNV has diminished its long-term forecast for hydrogen and its derivatives by 20%, as quickly evolving areas corresponding to Europe, the OECD Pacific and North America battle to speed up using hydrogen.
Under is an instance of actions being taken, as renewable and low-carbon fuels corresponding to hydrogen have an necessary function to play within the vitality transition, with fewer emissions than fossil fuels.
Introduced on September 27, 2024 by your Directorate-Basic for Powerthe European Fee launched a brief 4-week public session on the invoice that clarifies the methodology that assesses emissions reductions with using hydrogen and low-carbon fuels.
In response to the press launchthe European Union (EU) hydrogen and gasoline decarbonization package deal was printed within the Official Gazette on 15 July and got here into drive on 5 August 2024. The Fee now has 12 months to make clear the definition of low-energy hydrogen carbon, however needs the foundations to be carried out even sooner. EU nations have till August 5, 2026 to use the brand new guidelines of the directive of their nationwide laws.
Click on on the picture under to learn extra in regards to the hydrogen-related public session carried out by the European Fee.
Lastly, one other related perspective is that of value and worth, about which we return to a different quote from the identical preface of the 2024 DNV Power Transition Outlook:
“Without a reasonable carbon price and/or direct support that stimulates its market, hydrogen will have difficulty accelerating and moving up the learning curve in terms of costs.”
