The federal government has released an in-depth hydrogen strategy it says will position Canada as a global leader in the emerging clean fuel industry.
The feds will put $1.5 billion into developing the industry, through a Low-Carbon and Zero-Emission Fuels Fund. It indicates the strategy could help create up to 350,000 new jobs in Canada by 2050, while reducing GHG emissions by up to 45 million metric tonnes per year by 2030.
“Hydrogen’s moment has come. The economic and environmental opportunities for our workers and communities are real. There is global momentum, and Canada is harnessing it,” said Seamus O’Regan, Canada’s Minister of Natural Resources.
Among other things, the funding will be used to support a nationwide hydrogen refueling network able to support more than 5 million fuel cell electric vehicles by 2050. It will also incentivize the adoption of zero-emissions vehicles. The refueling infrastructure will be focused on regional hubs, and high-profile medium- and heavy-duty fuel cell electric vehicle pilot projects will be supported.
“As an increasing number of countries strive for net-zero emissions by 2050, they are looking to hydrogen for their clean energy needs. Canada is well positioned to be among the global leaders in hydrogen production, which will help to create thousands of jobs, grow our economy, cut pollution and put Canada on a path to exceeding our 2030 Paris Agreement target,” said Jonathan Wilkinson, Canada’s Minister of Environment and Climate Change
The feds indicate the global hydrogen market will be worth $12 trillion by 2050. It spent three years developing the strategy, and solicited input from 1,500 experts and stakeholders.
The strategy can be downloaded here.