Renewable and low-carbon hydrogen is crucial in curbing emissions, but it will only account for 5% of the global final energy mix by 2050, falling short what is needed to meet climate goals, global energy consultancy DNV said on Monday.
To meet the Paris Agreement to limit global warming to 1.5 degrees by 2050, hydrogen would need to reach 13%, according to its calculations, the Norway-based risk management expert said when presenting its first standalone hydrogen outlook paper.
An increased hydrogen uptake to meet net-zero targets would require stronger policy mandates, increased demand-side incentives and higher carbon prices, it added. But replacing fossil fuels with electricity is hard for sectors such as aviation, shipping, and high-heat industrial processes and "green hydrogen" made with renewable energy, or low-carbon one, can help them reduce their carbon footprint.
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