16 Countries Pledge $94 Billion for Renewable Demonstration Projects Globally

An investment of $8 billion will go into regional clean hydrogen hubs

September 27, 2022


Sixteen countries committed $94 billion for clean energy demonstration projects globally at the first-ever Global Clean Energy Action Forum in Pittsburgh.

The commitments are in response to U.S. President Joe Biden’s challenge to mobilize $90 billion in public funding by 2026.

The International Energy Agency assessed this level of funding is needed to complete a portfolio of large-scale demonstration projects this decade to bring to market the technologies required to achieve net zero emissions by 2050.

The United States is devoting $21.9 billion to clean energy demonstrations. Other countries that made commitments are Australia, Canada, European Commission, Finland, France, Germany, Japan, the Netherlands, Norway, Poland, South Korea, Singapore, Sweden, United Arab Emirates, and the United Kingdom.

The forum convened two essential international platforms for collaboration on clean energy innovation and deployment: the 13th Clean Energy Ministerial (CEM) and the seventh Mission Innovation Ministerial (MI).

India will host the 14th edition of CEM in 2023.

U.S. Secretary of Energy Jennifer M. Granholm, who chaired the forum, explained, “The U.S. has been honored to host this year’s Global Clean Energy Action Forum, and it has been amazing to be in Pittsburgh to witness the collaboration across the energy ecosystem – world leaders, industry, investors and advocates – for concrete plans to work together on major demonstration and innovation projects that will help deploy clean energy faster.”

Under the zero-emissions government fleet declaration launched by the U.S. as part of the CEM’s electric vehicle initiative, signatory governments committed to 100% zero-emission light-duty vehicle acquisitions of their government-owned and operated fleet.

The leaders announced aspirations towards 100% zero-emission medium- and heavy-duty vehicle acquisitions by 2035.

U.S. Department of Energy’s (DOE) new Industrial Heat EarthShot initiative has been launched to reduce the cost, energy use, and carbon emissions associated with the heat used to make everyday products.

The EarthShot initiative will develop cost-competitive industrial heat decarbonization technologies with at least 85% lower greenhouse gas emissions by 2035.

DOE also released the Regional Clean Hydrogen Hubs (H2Hubs) funding opportunity announcement to establish an $8 billion program to develop at least four H2Hubs demonstrating the production, processing, delivery, storage, and end-use of clean hydrogen.

DOE announced nearly $4.9 billion in funding to bolster investments in the carbon management industry and significantly mitigate carbon dioxide emissions released into the atmosphere through power generation and industrial operations.

The U.S. recently launched two new program offices – the Grid Deployment Office and the Office of State and Community Energy Programs – which will drive more than $23 billion in investments to expand the power grid’s capacity and deploy cheaper and cleaner energy.

The European Commission said it was investing €1.8 billion (~$1.804 billion) in 17 large-scale innovative clean energy projects worldwide. The selected projects will bring breakthrough technologies in energy-intensive industries, hydrogen, renewable energy, carbon capture and storage infrastructure, and manufacturing key components for energy storage and renewables.