Tokyo — The Japanese government said Tuesday it will set a target of increasing annual hydrogen supply in the country to 12 million tons in 2040 from 2 million tons at present as part of efforts to realize a decarbonized society.
The government also hopes that a total of some 15 trillion yen will be invested by the public and private sectors over the next 15 years to advance the use of hydrogen and renewable energy sources.
At the day’s meeting of relevant ministers, the government showed a plan to revise its basic hydrogen strategy in late May. The updated strategy will include these goals.
“We will step up efforts for decarbonization at home while responding to fierce international competition in the fields of renewable energy and hydrogen,” Prime Minister Fumio Kishida said at the meeting, urging participating ministers to take specific actions.
Hydrogen, which emits no carbon dioxide when burned, is touted as a next-generation energy source. As hydrogen production costs are higher than those for liquefied natural gas and coal, the government plans to provide subsidies to help cover the gaps with the aim of establishing large-scale hydrogen supply chains.
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SOURCE: nippon.com
