On 29 May 2020, the Norwegian government put forward a ‘Green transition package’ of NOK 3.6 billion. The investment objective is to underpin the green transition and use this as the motor of accelerating out of the COVID-19 impacts on energy and industry.
Solutions such as hydrogen, building renovation, batteries, offshore wind, circular economy, green shipping and other forms of green energy are mentioned specifically in the Green Transition package. Funding will be provided through public and public-private mechanisms, of which the bulk will focus on supporting medium to high technology readiness level (TRL) activities supporting industrial competitiveness in emerging solutions.
Many European countries are looking into the economic benefits of hydrogen, as it is a true cross-sectorial enabler and key for reaching net zero GHG emissions by mid-century. Norway is following suit, with a hydrogen strategy launched following the announcement of their Green Transition package.
Implementing a hydrogen economy could decarbonise the economy and significantly improve Europe’s ability to reach climate goals. When used, hydrogen only emits water. But for hydrogen to be a low or emission-free energy carrier, it must be produced with little to no emissions, for example by electrolysis using renewable power or from natural gas with CO2 capture, transport and storage (CCS). Hydrogen can also support the phase in of less controllable renewable power and become the preferred option for storing large amounts of energy over longer periods.
Read the article online at: https://www.energyglobal.com/other-renewables/10062020/norway-to-launch-hydrogen-strategy/