The latter half of 2024 brought a reality check for the global green hydrogen sector. Despite ambitious commitments and policy momentum, the market remains far from a clear trajectory to achieve the 2030 production targets. Economic forces remain largely disconnected from the urgency of climate change, and without decisive government intervention, the industry risks stalling before it can scale.

To put this into perspective, governments worldwide spent $7 trillion subsidising fossil fuels in 2022 (IMF, 2023). India alone allocated $3.5 billion for fossil fuel subsidies and $20 billion for fertiliser subsidies in 2024. Compare that to the level of financial support currently allocated for green hydrogen—it is a drop in the ocean. Without substantial and sustained policy intervention, green hydrogen will struggle to compete with entrenched fossil fuel infrastructure.

Unlock Exclusive "Net Zero" Insights with Elets Technomedia

Subscribe today for expert analyses and in-depth reports on sustainability,
Net Zero strategies, and green innovations.

Subscribe Now

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.

"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!