As concerns grow over global energy supply due to rising tensions in the Middle East, the Chinese government has announced a new five-year plan to expand the use of «hydrogen energy.»
According to Chinese media outlets such as Yicai Global and other international sources on March 17, three government bodies—the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission—released a notice the previous day regarding the launch of a «Comprehensive Hydrogen Energy Application Demonstration Project.»
The plan aims to ensure that, by 2030, hydrogen energy will be used on a large scale across various sectors in major metropolitan areas and to lower the average price of automotive hydrogen to less than 25 yuan (approximately 5,360 won) per kilogram.
The Chinese government has also set a goal of doubling the number of hydrogen fuel cell vehicles (FCVs) nationwide to 100,000 units by 2030. Furthermore, authorities have instructed local governments to explore expanding the use of hydrogen vehicles in public transportation, urban logistics, and ride-hailing services.
Currently, the price of automotive hydrogen in China exceeds 35 yuan (about 7,500 won) per kilogram. Even in key hydrogen energy industrial regions such as Foshan in Guangdong Province, hydrogen prices range from 35 to 50 yuan (about 7,500 to 10,700 won) per kilogram.
Industry experts believe that if the price drops below 35 yuan, the fuel cost for hydrogen vehicles will become comparable to that of internal combustion engine cars. If the target of 15 yuan is achieved, refueling costs would be similar to those of electricity, making direct competition between hydrogen vehicles and electric vehicles possible. Although China is already the world’s largest producer of hydrogen, the majority of its current supply is derived from coal.
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The South China Morning Post (SCMP) analyzed that the objective of this new plan is to accelerate the transition to alternative energies such as «green hydrogen,» which comes with higher costs.
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Source: asiae.co.kr
