The private sector is ready to invest billions, but the money will disappear to other countries unless Norway seizes the opportunity now, writes six industry leaders.
In its first report, titled Green Hydrogen Production: Landscape, Projects and Costs, Wood Mackenzie Power & Renewables counted 3.2 gigawatts of planned electrolyzer capacity, a twelvefold increase over the cumulative installed capacity at the time. As of March 2020, that pipeline had increased to 8.2 gigawatts, or 31 times the cumulative installed capacity today.
Scaling up hydrogen production only made sense if demand for it also increased.