According to new reports released by the U.S. Department of Energy (DOE), investments in hydrogen, nuclear and long duration energy storage sectors must increase from approximately $40 billion now to $300 billion by 2030, with continued acceleration until 2050 in order to stay on track in reaching decarbonization targets.
The reports are released via DOE’s Pathways to Commercial Liftoff, which is aimed at spurring public and private partnerships to accelerate clean energy deployment. The initial Liftoff reports focus on clean hydrogen, advanced nuclear and long-duration energy storage.
Clean hydrogen is expected to play a particularly important role in cleaning up hard-to-decarbonize sectors like refining, chemicals and heavy-duty transport.
According to DOE, the U.S. clean hydrogen market is expected to grow rapidly because of federal funding for regional hydrogen hubs, incentives for clean hydrogen production in the Inflation Reduction Act (IRA), the Hydrogen Earth Shot initiative and decarbonization goals across the public and private sectors.
Learn more about the Liftoff reports: www.power-eng.com
Read the full reports: Liftoff Reports