Solar to steer brisk EU transition from 'grey' to 'green' hydrogen economy as renewables gain preference during COVID-19 pandemic

摘要

The EU has decided to target 33% of its installed capacity from renewable sources following the largest year-on-year (YOY) percentage growth in total installed capacity. Having set themselves stiff solar targets, key EU countries are looking at green hydrogen to boost their renewable drive, supported by the recently announced EUR 1.85 trillion fiscal stimuli. However, while GlobalData anticipates that a large-scale deployment of low-cost solar PV could greatly aid in bringing down the cost of green hydrogen for commercial and sustainable usage, the target capacity additions set by leading EU economies may be a little high. Somik Das, Senior Power Analyst at GlobalData, comments that the solar for major EU countries such as Germany, France, Spain, Italy and Portugal clearly show their intent to use the opportunity provided by the COVID-19 pandemic and shift to a greener future, but it is questionable whether this is achievable.