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Germany plans to allocate 3.53 bn euros ($3.8 bn) from 2027 to 2036 to purchase green hydrogen and its derivatives, aiming to help decarbonise its economy. The funding, from the government's Climate and Transformation Fund, seeks to balance supply and demand for hydrogen. This move is crucial as Germany aims to reduce greenhouse gas emissions from industries like steel and chemicals, which cannot easily switch to electricity. Germany expects to import about 70% of its hydrogen needs in the future. The funds will bridge the price gap between supply and demand, with details being finalised with the European Commission.
To accelerate the global adoption of green hydrogen, Germany initiated the H2Global project in 2021, using a "double auction" system. This involves buying hydrogen or its derivatives at low prices on the global market and then selling them to the highest bidder. However, experts like Helge Barlen from AFRY Management Consulting suggest that the effectiveness of this funding will depend on how the price difference between buying and selling evolves. For instance, with a hypothetical price difference of 4 euros per kilogram of hydrogen, the funding could support nearly one million metric tons over a decade.
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