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India Requires 56 Billion to Meet 2030 Green Hydrogen Demand

2023-06-07

According to a recent assessment by the United States Agency for International Development (USAID), India's strategic advantages, including as its wealth of renewable energy resources, established consumer markets, and favourable investment prospects, place it in a position to become a major worldwide centre for green hydrogen.

Indian manufacturers can attain some of the lowest levelized costs for green hydrogen and green ammonia globally, estimated at $ 3,800-4,800 per tonne and $850-1,100 per tonne, respectively, by leveraging resources and constructing suitable sites as green hydrogen hubs.

Government incentives, subsidies, and mandates for its usage are anticipated to promote demand for green hydrogen even though the price gap between grey and green hydrogen is still a problem.

The National Hydrogen Mission, which was approved at the beginning of the year, serves as an example of the government's proactive attitude and furthers the sector's expansion.