To achieve a decarbonized society, the Japanese government announced that it will aim to increase the nation’s yearly hydrogen supply from 2 million tonnes to 12 million tonnes in 2040.
The government also anticipates that during the next 15 years, the public and commercial sectors would jointly invest roughly 15 trillion yen to develop the use of hydrogen and renewable energy sources.
The government revealed a plan to update its fundamental hydrogen strategy in late May during the day’s meeting of pertinent ministers. These objectives will be part of the revised plan.
Prime Minister Fumio Kishida said at the meeting that “we will boost up efforts for decarbonization at home while reacting to tough worldwide competition in the fields of renewable energy and hydrogen.” He urged attending ministries to take particular initiatives.
Next-generation energy sources like hydrogen are promoted since they produce no carbon dioxide when used. The government wants to offer incentives to help fill in the gaps since the cost of producing hydrogen is higher than that of liquefied natural gas and coal to build extensive hydrogen supply networks.
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