The UK could miss out on millions in investments and tens of thousands of jobs in the next 10 years unless the Government raises its hydrogen production targets, according to an industry report.
More than three-quarters of respondents to Hydrogen Strategy Now’s State of the Hydrogen Nation survey said the 5GW hydrogen production target set out in the PM’s Ten Point Plan is not ambitious enough.
Around half said the lack of a clear hydrogen Strategy has seen the UK miss out on valuable investments into UK hydrogen projects, while 81% said the UK was failing to meet its hydrogen potential.
Also likely to be of concern to ministers is the fact that 61% of respondents were not confident that the Hydrogen Strategy would create a 'world leading' hydrogen market, which the Government has set as its measurement of success.
The State of the Hydrogen Nation Survey was launched in April by the Hydrogen Strategy Now group to analyse the views of industry leaders on the progress and potential of the UK hydrogen sector to date.
This survey was the first of its kind in the UK, and has brought together the views of 120 leading national and international businesses and organisations at the forefront of the hydrogen economy.
Between them, the businesses employ approximately 100,000 people across all parts of the UK, with a combined net worth of £150 billion (€175 billion). They work across all sections of the hydrogen economy, including transport, heat, power generation, storage, infrastructure, investment, and transmission.
Chris Jackson, chair of the UK Hydrogen and Fuel Cell Association, said: “The UK has all the ingredients to be a world leading hydrogen economy, creating jobs, economic growth and accelerating the transition to net zero. Sadly the results of this survey show that the Government needs to go further and faster in its development of an appropriately ambitious hydrogen policy framework, to support industry and unlock the UK’s potential.
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