The number of fuel cell-related capacity planned in China far exceeds market capacity, increasing the risk of overcapacity, said an article published by the official media Economic Daily on Aug. 8.
According to the article, since China announced its support policy for fuel cell vehicles last September, more than 40 cities have released hydrogen energy plans, with trillions of RMB in the planned scale of the industry, and more than 30 hydrogen energy industrial parks have been built.
According to the article, China has seen duplication of construction in wind power and photovoltaic industries in previous years because many companies were optimistic about the industry’s prospects and entered the same industry almost at the same time, resulting in a huge waste of resources.
China said last year that it aims to peak its carbon emissions by 2030 and achieve carbon neutrality by 2060. Hydrogen energy has become an important direction to explore for the energy revolution.
Carbon neutrality is a phenomenon in which the total amount of greenhouse gas emissions produced by a company over a certain period of time is offset by the total amount of greenhouse gases it reduces through measures such as afforestation.
According to the article, the technology of hydrogen energy and fuel cells in China needs to be improved and the industrial base in some regions is weak, so it is important to prevent the phenomenon of companies blindly pressing investment.
The article calls for companies to share resources and complement each other’s disadvantages in the early stages of industrial development, and neither invest blindly because of policy support nor give up because they encounter difficulties.
This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
