H2Tech Market Data 2024 - 9

achieve a green H2 production capacity of 5 MMtpy by
2030 and 125 GW of renewable energy capacity at a cost
of nearly $98 B in capital investments.11
India's government has also announced more than
$2 B in incentives to jumpstart green H2
projects in the country.12
the cost of green H2
production
this publication, green H2
This move is an effort to reduce
production in India-at the time of
production costs in India was
300 rupees/kg-400 rupees/kg ($3.66/kg-$4.89/kg)12
-
and attract additional investments domestically. The
country has also extended its transmission fee waiver
for renewable energy to green H2
plants commissioned
before January 2031. This incentive could reduce the cost
of inter-state transmission charges, reducing green H2
production costs by 1 rupee-2 rupees ($0.01-$0.02) per
unit of power transmitted.13
Lastly, India's government is also developing a carbon
credit trading scheme. Essentially, India would allow countries
to use green H2
trade globally.
-linked carbon credits in exchange for
investments and purchase deals. This type of carbon credit
trade has the potential to boost green H2
At the time of this publication, India held the third-largest
market share in active H2
projects in the region, with
most of the country's domestic projects under development
through green H2
will not only provide zero-carbon emitting H2
pathways (FIG. 9). These facilities
feedstock
for India's hydrocarbon processing sector (e.g., refineries,
petrochemical plants) and hard-to-abate industries such
as steel and cement manufacturing, it will also enable the
country to replace ammonia imports for fertilizer production
with domestic, green alternatives by 2035.14
The country
has also planned to increase green ammonia production
capacity to nearly 6 MMtpy and has identified three ports-
Kandla, Paradip and Tuticorin-to serve as H2
export hubs.
Japan. At the time of this publication, the government
of Japan was revising the nation's H2
nation's goals are to increase H2
supplies by 1 MMtpy to
3 MMtpy by 2030, to 12 MMtpy by 2040 and up to 20
MMtpy by 2050. To accomplish this pathway to carbon
neutrsality, Japan plans to invest nearly $110 B in public and
private sectors to create domestic H2
and green ammonia
strategy. The island
FIG. 9. Green H2 projects and plants in operation in India. Source: GEI database and Hydrogen Economist.
9
MARKET DATA 2024
H2-Tech.com

https://globalenergyinfrastructure.com/ https://pemedianetwork.com/hydrogen-economist http://www.H2-Tech.com

H2Tech Market Data 2024

Table of Contents for the Digital Edition of H2Tech Market Data 2024