Morocco is poised to capitalize on the booming green hydrogen market, highlights in a recent analysis by Deloitte that said the country has the potential to produce green hydrogen at an impressive cost of just $1 per kilogram, leveraging its abundant renewable energy resources from wind and solar power.
This advantageous position, coupled with its proximity to the European Union, positions Morocco as a key player in the future export of green hydrogen.
As the global demand for green hydrogen continues to grow, Morocco is expected to be among the frontrunners in exporting this clean energy source, alongside countries like Saudi Arabia and Chile.
Green energy from water, wind and sun already covers 20% of Morocco’s energy needs, but the country’s green ambitions are even bigger and translate through various projects
Spain, the United Kingdom, and Japan are projected to be the main importers. The anticipated surge in the green hydrogen market comes as the Moroccan government prepares to update its green hydrogen plan, attracting significant investment from around the world.
The World Energy Council predicts that Morocco could account for 4 percent of global demand for green hydrogen and its derivatives by 2030.
By 2030, the green hydrogen economy could generate 1 million new jobs annually, with this pace expected to double over the next two decades. Developing countries, including Morocco, stand to benefit, with an estimated 1.5 million jobs projected in these regions.
The study emphasizes that the transition to green energy is gaining momentum globally as governments and industries strive to tackle climate change and enhance energy security.
Green hydrogen is anticipated to play a pivotal role in achieving climate neutrality, with the market projected to reach $1.4 trillion annually by 2050.
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