Japan’s government on June 6 pledged $107 billion to help develop hydrogen as a renewable energy source as part of the country’s decarbonization strategy. The plan sets a target to increase the annual supply by six times from the current level to 12 million tons by 2040, while funding both private and public sources to develop hydrogen-related supply chains over the next 15 years, the Associated Press reported.
“Hydrogen is an industrial sector that can make a triple achievement of decarbonization, stable energy supply, and economic growth in one shot,” said Chief Cabinet Secretary Hirokazu Matsuno. “We will promote (hydrogen) on a large scale, both demand and supply.”
Japan has so far relied on hydrogen mainly produced using fossil fuels. The revised “green transformation” plan prioritizes nine strategic areas, the AP reported, including development of water electrolysis equipment, fuel storage batteries, and large-size tankers for transporting hydrogen.
The government is still drafting legislation to support building necessary infrastructure and supply chains for commercial use of pure hydrogen and ammonia, the AP reported.