Advancing a Regional Approach to the Green Hydrogen Economy in Latin America and the Caribbean
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Advancing a Regional Approach to the Green Hydrogen Economy in Latin America and the Caribbean
The use of green hydrogen as an energy vector to support countries' decarbonization pathways is a genuinely new vision that was endorsed by many countries at the last Conference of Parties (COP26) meeting. It is estimated that the global green hydrogen market will grow to 600 million tons by 20501. Based on LAC countries' relatively clean energy matrix, the region could play a leading role due to the green hydrogen generation technical potential estimation (1,114 EJ under USD 1.5/kg by 2050).
Because the use of green hydrogen as an energy vector is in the nascent stages, LAC countries face different barriers to harnessing its decarbonization potential, integrating it into their national industries (especially in hard-to-abate sectors), and leveraging the regional and global value chains. Thus, the region's lack of information and generalized knowledge on hydrogen has hindered the development of plans, regulations, and projects. Furthermore, this situation has prevented a joint understanding and coordination between countries, as well as the establishment of guidelines and certifications to support the implementation of national plans and roadmaps.
Considering the common barriers and individual situations of the different countries, this grant will work on i) technical capacity development and knowledge creation ii) national hydrogen planning and project implementation and iii) regional coordination among the countries. Addressing the barriers regionally eases the experience, information, data, success and failure cases sharing among the countries, including the analysis of synergies in the value chain and the possibilities of establishing future alliances and trade between the countries.