Anyone who read our ESG and Climate reports of the last two weeks will know that we do not believe in the hydrogen projections below as we see renewable power as a potentially scarce resource. Furthermore and also covered yesterday, should the API be successful with its carbon tax proposal in the US and should this be additive to the 45Q incentive for CCS, we could see an explosion of blue hydrogen investments in the US, especially on the Gulf Coast.
Source: IEA, NGI, April 2022
Sticking with the renewable power theme, the Wacker projections below show a range for 2022 and this is likely wise given the downside risk from material supply and pricing. The lower end of the range may yet turn out to be too optimistic. Wacker is right to think about investing to address some of the supply chain and raw material issues.
Source: WACKER – 1Q22 Results Presentation, April 2022
