Driven by policies, the hydrogen energy market has a bright future
At present, my country's hydrogen production exceeds 30 million tons per year, mainly from fossil energy hydrogen production, industrial by-product hydrogen, etc., for the production of chemical products. Among them, the carbon emission of hydrogen produced from fossil energy is very high, and every kilogram of hydrogen produced on average will emit 10-30 kilograms of carbon dioxide. Under the two-carbon goal, hydrogen production from fossil energy obviously cannot become the main direction of development.
On March 23, the "Medium and Long-Term Plan for the Development of Hydrogen Energy Industry (2021-2035)" (hereinafter referred to as the "Plan") jointly issued by the National Development and Reform Commission and the National Energy Administration clearly pointed out that the focus of development should be on renewable energy. Hydrogen production, strictly control hydrogen production from fossil energy. This is a major positive signal for the renewable energy hydrogen production industry chain. Under the guidance of this signal, the volume of hydrogen production from renewable energy will expand rapidly in the future, and enterprises related to the domestic hydropower hydrogen production equipment industry chain will develop rapidly.
According to the basic goal of China's green hydrogen production reaching 100,000-200,000 tons/year in 2025 set by the "Planning", GGII estimates that the installed capacity of electrolyzers corresponding to this goal is 1400-2800MW (calculated according to the equipment utilization rate of 4000h) . It is expected that China's water electrolysis hydrogen production equipment market will usher in a period of rapid development from 2022 to 2025.