A new Hydrogen Council report sheds some light on hydrogen's rise as a green fuel source. More than 30 countries now have a national H2 strategy and budget in place, and there are 228 projects in the pipeline on both the production and usage sides.

Europe is leading the way, with 126 projects announced to date, followed by Asia with 46, Oceania with 24 and North America with 19. In terms of gigawatt-scale H2 production projects, there are 17 projects planned, with the largest in Europe, Australia, the Middle East and Chile.

Overall, projects seem fairly well balanced between hydrogen production and end-use applications, with a smaller number focusing on distribution. European projects are balanced between production and usage initiatives, while Korea and Japan are developing much more on the usage side, for both transport and industrial applications. Australia and the Middle East are more active on the supply side, working to position themselves as hydrogen exporters.

The majority of these projects – some 75 percent, it should be noted – have been announced but do not yet have funding committed. This figure includes budgets committed by governments for spending, for which no project has yet been identified. Only US$45 billion worth of projects are at the "mature" stage, having reached the feasibility study or engineering and design stage, and $38 billion are at the "realized" stage, with a final investment decision made, construction started, or already operational.

Hydrogen production projections for 2030 have leapt up in the last year. The previous report estimated that 2.3 million tons will be produced annually by 2030, and this report revises that figure up to 6.7 million tons. To put that another way, two-thirds of the global hydrogen production expected to be operational in 2030 has been announced in the last year.

Government decarbonization initiatives are a huge driving force behind the hydrogen wave, with some $70 billion committed globally. Carbon pricing is helping, with some 80 percent of global GDP covered by some kind of CO2 pricing mechanism.

Japan and Korea, as you'd expect, are leading the charge on fuel cell vehicles, and globally the report projects some 4.5 million FCVs on the road by 2030, with 10,500 hydrogen fuel stations targeted to meet that demand.

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