The Hydrogen Taskforce has published a new Economic Impact Assessment that suggests hydrogen could generate £18bn for the UK economy by 2035, driving forward the country’s Green Recovery.
Published today, the Economic Impact Assessment examines the economic benefits hydrogen could generate throughout the value chain, including the economic impact of production, distribution and storage and in end uses ranging across transport, industry, heating and in power generation.
The research forecasts the 11.3 TWh (terawatt hours) of hydrogen would be required to support end us in sectors such as heat, transport, power and industry by 2035 annually. Of this annual demand, 20% could be met by green hydrogen and 80% by blue hydrogen.
Commenting on the findings, Jacob Young MP, Member of Parliament for Redcar and Chair of the APPG on Hydrogen, said, “This research from the Hydrogen Taskforce proves that hydrogen is a real growth opportunity for the UK and will kickstart a green jobs revolution.”
“I look forward to seeing further announcements from business and Government in the coming months, to help ensure the UK meets its carbon commitments and unlock these 75,000 jobs.”
Read the full story here.