Interchange Recharged
Is the world giving up on green hydrogen? | Hydrogen energy is having an identity crisis but who’s to blame?
Mar 11, 2025
Bridget Van Dorsten, a principal analyst at Wood Mackenzie specializing in hydrogen market trends, and Carl Cho, director of Clean Energy Finance at Citibank with over a decade of clean energy experience, dive into the identity crisis facing hydrogen energy. They discuss the U.S. transition toward blue hydrogen and the lag in green hydrogen project advancements. Roadblocks like financing, offtake uncertainty, and scaling challenges are explored. The duo also debates localized projects versus large-scale infrastructure, pondering hydrogen's future role in energy.
32:21
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Quick takeaways
- The US is set to become the leading blue hydrogen market by 2025 due to favorable policy developments and significant investments.
- Despite the promise of green hydrogen, financing hurdles and market demand uncertainties hinder the realization of announced projects.
Deep dives
Hydrogen Market Overview and Hype Cycle
The hydrogen market has experienced a significant amount of hype recently, with ambitious forecasts predicting cost reductions for electrolyzers. Despite the excitement, progress in actual project realizations remains slow, as only a small fraction of the announced future capacity has come to fruition. While 144 million tons per annum of low carbon hydrogen projects have been announced, only 6 million tons have moved past the final investment decision stage. This scenario reveals a gap between optimism and actual implementation, highlighting the complexities and challenges of establishing a new low-carbon hydrogen industry.
