11 Mag Post COVID-19 and the Hydrogen Sector A Hydrogen Europe Analysis
Following the unprecedented Covid-19 outbreak currently unfolding, Hydrogen Europe is publishing its latest paper: “Post COVID-19 and the Hydrogen Sector – A Hydrogen Europe Analysis”.
On the long-term, climate and environmental challenges remain the major threat to our planet and to humanity as a whole. The economic crisis following the Covid-19 pandemic may cause a significant delay to the adoption and commercial roll-out of clean hydrogen. It may even permanently endanger the capacity of the clean hydrogen sector to take-up its role as the missing link in the energy transition.
A swift, decisive and coordinated action is necessary to address the risks and, at least, dampen the negative impact that they may have on the deployment of clean hydrogen technologies and on our transition to a net carbon, yet powerful and wealthy economy.
The document outlines the need for and rationale behind rapid action as a result of the Covid-19 impact. Please find here below a short summary of what you will find in it:
- Is there a need to take action?– describing why the current pandemic will result in significantly jeopardising the hydrogen sector if no action is taken.
- Why should action be taken?– underlining the importance of the hydrogen sector to EU’s decarbonisation efforts as well as its long-term potential to support sustainable economic growth of the EU.
- What can be done? – outlining several potential options for supporting the industry, starting from most obvious monetary support, but including also no less important policy actions that can be taken to restore investors’ confidence.
- How much will it cost?– containing an estimation of the value of the monetary support needed in order to retain the high skilled workforce and the sector’s investment portfolio, followed by an estimation of what will be the impact of the action.