The H2 industry in China’s Guangdong province is expected to hit $28.6 billion by 2030.
The capital of Guangdong province in China has announced that the Guangzhou hydrogen energy industry is predicted to break the 200 billion yuan (approximately $28.6 billion) by 2030.
The city has been doubling down on its efforts to develop an H2 system with sophistication.
The goal of the Guangzhou hydrogen energy growth will be to help fill the sustainable power source gap currently faced in China. This, according to Guangzhou Municipal Development and Reform Commission deputy director Chen Jianrong when addressing the media.
The city plans to construct an H2 fuel industrial chain that will already have reached a production value higher than 60 billion yuan in the next five years. This industrial system will include everything from hydrogen fuel production to its production, storage, transportation and usage and, by 2030, it will have an estimated value of about 200 billion yuan, said the deputy director.
There are already more than 20 Guangzhou hydrogen energy projects in this Chinese city.
The city has already gained more than 20 H2 fuel projects. Investments in those projects have reached higher than 4 billion yuan in that city alone. The Guangdong capital will also be exploring additional uses for H2 as a fuel in different industries across the country. Among those that are already seen to have the greatest potential include public transportation vehicles, mechanical equipment, shipping and drones. Those are all under exploration for possible use in the near future.
The Chinese government has implemented a range of added support policies with H2 in mind. They have been designed to help push forward hydrogen fuel cell research in development. This has been a growing effort over several years, said Li Can from the Chinese Academy of Sciences.
The Guangzhou hydrogen energy projects are far from the only ones of that nature in the country. China has been investing heavily in this renewable fuel source to help reduce its dependence on fossil fuel and boost its self-reliance in the new forms of energy it chooses to replace those older options.