The UK has decided to invest well 4 billion pounds for that development of hydrogen-based technologies over the next decade. There will also be business support through 105 million pounds essential for reducing emissions and their impact on the environment.
Unsurprisingly, the plan announced by the Prime Minister and the Secretary of State for the Economy aims to achieve a hydrogen production capacity of 5 GW by 2030.
One of the UK government’s priorities seems to be adopting a two-pronged approach that can support multiple technologies at the same time to low-emission hydrogen production and collaboration with production sectors, essential for defining a standard that ensures supply and demand that the hydrogen produced meets the zero emission objective. It will also be part of the prerogatives to exercise network and infrastructure review necessary to carry out the plan.
Tens of thousands of jobs, billions of pounds of investment and new export opportunities will inevitably be unlocked thanks to the government’s plans to create a thriving low-carbon hydrogen sector over the next year. decade. Indeed, we reiterate that a booming hydrogen economy in the UK could be worth £ 900million and create more than 9,000 jobs by 2030, with a potential increase in 100,000 jobs and a value up to 13 billion pounds by 2050.
We are about to start the hydrogen revolution in the UK. This clean source of energy has the potential to transform the way we power our lives and will be essential in tackling climate change and achieving Net Zero. With the potential to supply a third of the UK’s energy in the future, our strategy positions the UK to lead the global race to accelerate hydrogen technology and gain thousands of jobs and d private investments, said the Secretary of Business and Energy. Kwasi Kwarteng.