The Indian government could soon announce an incentive program worth $2.2 billion to help reduce the production of cost of green hydrogen.
According to Reuters, the incentive package could be part of next year’s budget scheduled to be tabled in the Sansad (India’s parliament) on 1 February.
The incentive package is expected to enable manufacturers of electrolyzers to reduce the cost of green hydrogen production. According to Reuters, the current cost of production of green hydrogen is around Rs 300-400 ($3.60-4.80) per kilogram. The Indian government aims to reduce that by a fifth over the next five years. The global aspirational goal is to reduce this cost to less than $1 per kilogram by 2030.
Oil refineries and fertilizer manufacturers are the leading consumers of hydrogen in India, representing an annual demand of 5 million tonnes. Currently, this hydrogen is produced…
India Readies $2.2 Billion In Incentives For Green Hydrogen
