Oct. 18, 2023 9:23 am ET|WSJ ProHydrogen demand is set to rise sharply over the next two decades, but major bottlenecks such as long permitting times, higher equipment costs and lack of access to capital could slow growth in supply. “The big issue today is that a lot of announcements are coming on stream which have a lot of potential, but only 6% to 10% are actually committed [in terms of financing],” said Pierre-Etienne Franc, CEO of Hy24, a hydrogen-focused investment fund. A new report from consulting firm McKinsey forecasts a fivefold rise in hydrogen demand to 600 million metric tons a year by 2050, if climate change is limited to 1.5 degree Celsius. On current trajectories, however, that supply could be between 175 million to 291 million metric tons a year if steps aren’t taken to s...
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