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Japan Reserves USD 107 Billion for Developing Hydrogen to Cut Emissions
The plan sets an aspirational objective to rise the annual supply by six times from the current level to 12 million tons by 2040.
June 06, 2023. By EI News Network
Japan’s government adopts a revision to the plans to deploy more hydrogen as fuel as part of the step to reduce carbon emissions.
The plan sets an aspirational objective to rise the annual supply by six times from the current level to 12 million tons by 2040.
It also commits 15 trillion yen (USD 107 billion) in financing from both private and public sources to ramp up hydrogen-related supply chains over the subsequent 15 years.
Japan’s decarbonization strategy focuses on utilising clean coal, hydrogen and nuclear energy in its transition to renewable energy.
So far, Japan is depending on hydrogen mainly produced using fossil fuels.
Some experts say strategies like commercializing the use of hydrogen and ammonia mainly serve huge business interests and major industries that are heavily invested in fossil fuel-based technologies and have power over the Japanese government policies.
The revised plan stratifies nine strategic areas, like the development of water electrolysis equipment, fuel storage batteries and large-size tankers for transporting hydrogen.
Chief Cabinet Secretary Hirokazu Matsuno stated, “Hydrogen is an industrial sector that can make a triple achievement of decarbonisation, stable energy supply and economic growth in one shot.
Japan's officials add that they want to adopt a Japan as “hydrogen society," but the hydrogen industry is still in its preliminary stages.
The Japanese government is creating legislation to assist in building crucial infrastructure and supply chains for the commercial use of pure hydrogen and ammonia, another source of hydrogen.
The plan sets an aspirational objective to rise the annual supply by six times from the current level to 12 million tons by 2040.
It also commits 15 trillion yen (USD 107 billion) in financing from both private and public sources to ramp up hydrogen-related supply chains over the subsequent 15 years.
Japan’s decarbonization strategy focuses on utilising clean coal, hydrogen and nuclear energy in its transition to renewable energy.
So far, Japan is depending on hydrogen mainly produced using fossil fuels.
Some experts say strategies like commercializing the use of hydrogen and ammonia mainly serve huge business interests and major industries that are heavily invested in fossil fuel-based technologies and have power over the Japanese government policies.
The revised plan stratifies nine strategic areas, like the development of water electrolysis equipment, fuel storage batteries and large-size tankers for transporting hydrogen.
Chief Cabinet Secretary Hirokazu Matsuno stated, “Hydrogen is an industrial sector that can make a triple achievement of decarbonisation, stable energy supply and economic growth in one shot.
Japan's officials add that they want to adopt a Japan as “hydrogen society," but the hydrogen industry is still in its preliminary stages.
The Japanese government is creating legislation to assist in building crucial infrastructure and supply chains for the commercial use of pure hydrogen and ammonia, another source of hydrogen.
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