First Renewable Hydrogen Summit : key takeaways

Close to 1000 participants joined top EU policy makers and CEOs from major renewable energy companies, industrial players and hydrogen start-ups gathered to discuss whether the Fit for 55 Package released this summer by the European Commission was up to the challenge of making Europe the global leader in renewable hydrogen.

Key takeaways from the Summit

  • The targets for renewable hydrogen consumption in hard-to-electrify sectors proposed in the Fit for 55 Package present the right level of ambition to help create demand and a market for renewable hydrogen technologies, cementing Europe’s global leadership in renewable hydrogen.
  • To achieve these renewable hydrogen targets, Europe now needs to make sure it has the right measures in place to:
  • Accelerate and massively deploy additional renewable electricity and electrolysers across Europe. This is key to achieve the newly proposed renewable energy target of 40% and the EU target of 40 GW installed electrolyser capacity by 2030. A key priority should be to ensure simpler and faster national permitting procedures. This will be key to ramp up supply of renewable hydrogen.
  • Bridge the cost gap of renewable hydrogen until it is competitive with alternatives in order to de-risk investment and speed up deployment in this early stage. Finance and support instruments should cover both capital and operational costs and public support will be necessary for investments to take place. The ongoing revision of state aid rules will be crucial to enable such a support at national level.
  • Establish a robust and transparent EU-wide certification system that recognises the clear climate benefits of using renewable hydrogen over more polluting alternative hydrogen. This is essential to support uptake at end-user level.
  • Supporting the rapid scale-up of integrated EU value chains in renewable hydrogen technologies and electrolyser manufacturing capacities must become clear EU investment and industrial policy priorities. Building a European renewable hydrogen economy can become the true industrial success story of the European Green Deal, triggering massive private investments, stimulating innovation, job creation, green recovery and bringing long-term competitiveness in Europe.

Watch the full Summit here.

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