Hydrogen Council report tracks clean hydrogen investment and capacity growth
A Hydrogen Council report produced with McKinsey & Company examines the clean hydrogen sector’s progress and its role in energy security, industrial growth, and decarbonization. It says committed clean hydrogen investment has reached $130 billion, representing 6.9 Mtpa of committed capacity across more than 570 projects, with 90% already under construction or operational. Operational capacity rose 70% to about 1.7 Mtpa and is projected to reach roughly 3.8 Mtpa next year, while China accounts for more than half of committed renewable hydrogen capacity.
The Hydrogen Council’s work with McKinsey puts pledged clean-hydrogen funding at $130 billion. This supports 6.9 million tonnes per year of promised capacity across over 570 projects, with nine in ten already being built or operating. Capacity already running rose 70% to roughly 1.7 Mtpa and is expected to approach 3.8 Mtpa next year.
China holds more than half of pledged renewable hydrogen capacity and most newly operating renewable capacity added since 2025. Europe is second for pledged investment and first for project numbers, while the U.S. represents over 75% of pledged low-carbon capacity.
The shift could affect import-dependent economies, industrial producers, and consumers by diversifying energy and feedstock sources and potentially softening exposure to price shocks. Regions hosting projects may see industrial activity and supply-chain development, while workers in refining, ammonia, transport, and manufacturing could face changing skill demands. Whether benefits reach households broadly may depend on policy implementation, infrastructure, and local market conditions.