DNV: Despite falling short of Paris Agreement requirements, hydrogen technology set to bring significant changes to energy transition by 2050

Renewable and low-carbon hydrogen is expected to play an important role in decarbonizing and reducing emissions from hard-to-electrify sectors and reaching the Paris Agreement climate goals. While these targets require hydrogen to account for approximately 15% of the world's energy demand by 2050, DNV's forecast indicates that its uptake will fall well short of the total required, making up just 5% of the global final energy mix in 2050. Despite lagging behind these requirements of the Paris Agreement, the developments in hydrogen technology and infrastructure over the next three decades are expected to spur industry-transforming changes, DNV predicts in its latest 'Energy Transition Outlook 2023'.