Northwest European Hydrogen Monitor 2024 INTERNATIONAL ENERGY AGENCY The IEA examines the full spectrum of energy issues including oil, gas and coal supply and demand, renewable energy technologies, electricity markets, energy efficiency, access to energy, demand side management and much more. Through its work, the IEA advocates policies that will enhance the reliability, affordability and sustainability of energy in its 31 member countries, 13 association countries and beyond. This publication and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. Source: IEA. International Energy Agency Website: www.iea.org IEA member countries: Australia Austria Belgium Canada Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Japan Korea Lithuania Luxembourg Mexico Netherlands New Zealand Norway Poland Portugal Slovak Republic Spain Sweden Switzerland Republic of Türkiye United Kingdom United States The European Commission also participates in the work of the IEA IEA association countries: Argentina Brazil China Egypt India Indonesia Kenya Morocco Senegal Singapore South Africa Thailand Ukraine Abstract Northwest European Hydrogen Monitor 2024 Abstract This is the second edition of the Northwest European Hydrogen Monitor. It provides an annual update of low-emissions hydrogen market developments in Northwest Europe, and is the result of collaboration among the countries involved in the Hydrogen Initiative of the Clean Energy Ministerial (CEM-H2I) workstream entitled “Roundtable on the North-West European Region” and the hydrogen Northwest Europe is at the forefront of low-emissions hydrogen 1 development. This region accounts for around half of Europe’s total hydrogen demand, and it has vast and untapped renewable energy and carbon storage potential in the North Sea. It also has a welldeveloped, interconnected gas network which could be partially repurposed to facilitate the transmission and distribution of lowemissions hydrogen from production sites to demand centres. working group of the Pentalateral Forum. The development of low-emissions hydrogen in Northwest Europe could gradually scale up in the short- to medium-term. Northwest European countries now have the ambition to develop up to 30 to 40 gigawatts (GW) of electrolyser capacity by 2030. However, most lowemissions hydrogen projects are currently in the early stages of development. Their success will depend to a large extent on The countries analysed in this Monitor are Austria, Belgium, Denmark, France, Germany, Luxemburg, the Netherlands, Norway, Switzerland and the United Kingdom. Market monitoring is accompanied by regular dialogues with key stakeholders to facilitate the exchange of information and data collection. supporting policies and regulatory frameworks, with continuous monitoring of progress. The cost-efficient development of lowemissions hydrogen markets will also necessitate a regional approach that maximises existing synergies among national markets. PAGE | 3 IEA. CC.B.Y.4.0. This does not necessarily reflect the official definitions of the countries involved in the Monitor on the carbon intensity or sustainability of hydrogen production methods. 1 When the term “low-emissions hydrogen” is used, the International Energy Agency refers to hydrogen produced via electrolysis where the electricity is generated from a low-emission source (renewables or nuclear), biomass or fossil fuels with carbon capture usage and storage (CCUS). Table of contents Northwest European Hydrogen Monitor 2024 Table of contents Executive summary ..................................................................................... 5 Hydrogen policies and regulation ............................................................10 Subsidy schemes and support mechanisms ..........................................28 Hydrogen demand......................................................................................43 Hydrogen supply ........................................................................................53 Production costs and price discovery .....................................................63 Hydrogen trade ...........................................................................................69 Infrastructure ..............................................