EU Bets On Hydrogen; New Infrastructure Needs Cover

The EU are betting on hydrogen as the mainstay of home heating in the future, given that carbon based energy is now being denounced as inherently climate-damaging. The great news for insurers is that the fitting of home hydrogen conversion systems will need to be insured, along with a huge array of infrastructure across Europe to extract hydrogen from natural gas. Oh yes, the EU forgot that one detail – hydrogen can only be mass produced via the existing oil and gas industry. So, not really that green after all, as The Ecologist has already noted. 

Here’s the manifesto statement from the EU;

Following Tuesday’s adoption by the European Parliament of two parliamentary initiative reports on a European strategy for energy system integration and a hydrogen strategy for a climate-neutral Europe, Renew Europe urges the European Commission to propose regulatory incentives to simultaneously decarbonise Europe’s energy system, industry and transport sector, while maintaining energy affordability and ensuring its supply.

Additionally, in order for the transformation to unfold rapidly and to ensure that the Union maintains its technological leadership, Renew Europe calls for ambitious renewable and efficiency targets along with a forward-looking regulatory framework able to attract the much-needed investments in the energy sector.

The European strategy for energy system integration has been drafted under the leadership of Christophe Grudler, Member of Renew Europe. He says:

“Today the European Parliament sends a clear message: only through cooperation on infrastructure deployment, market integration and stronger support for research and innovation can the EU become the first climate-neutral continent by 2050. With the adoption of the report we see a new paradigm, a new manifesto: one that holds the keys to achieving our Energy Union. We call on the Commission to come forward with an ambitious revision of the energy regulatory framework. New incentives and mechanisms aimed at enhancing the decarbonisation drive, security of supply and energy affordability are urgently needed. The Union must act now and help Member States meet these massive challenges successfully.”

Renew Europe’s Bart Groothuis represented the group in the drafting of the hydrogen strategy for a climate-neutral Europe. He says:

“The greatest merit of the Green Deal is the European Hydrogen strategy. It means investing in a no regret scenario, as it is the only viable option we have to decarbonise our industries and heavy-duty transport, while contributing to jobs and competitiveness. As a first-mover in the world we must ramp up the production and demand, decrease costs, cooperate internationally and invest in infrastructure, research and innovation. With this report, the European Parliament gives its full support and sends a clear signal to the Commission, industries and governments to move forwards and not wait any longer to invest in the European hydrogen backbone and economy.”

The two reports adopted are Parliament’s answer to the Commission communication presented in July 2020.

About alastair walker 6125 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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