The Minister of Energy and Infrastructure in the Emirates, Suhail Al Mazrouei, during his participation in the World Economic Forum in Riyadh, pointed out the necessity of reducing the cost of hydrogen, while stressing that the market is still in the first stage of growth, especially in light of the continuing challenges of demand for this type of energy. Al Mazrouei stressed that green hydrogen is still one of the most expensive types of energy, while stressing that there are still many steps ahead in this field.

The Emirati Minister expected that prices would be reduced over time and investment in research and development would increase. He pointed out that the scenarios of price decreases were similar to what happened in the field of solar energy 15 years ago. The cost of producing a megawatt of solar energy was estimated at about 300 US dollars before that time, while today it ranges between 15 and 20 US dollars.

Al Mazrouei stressed the need for countries to work to stimulate the use of hydrogen as a clean fuel, anticipating that some industries will resort to using green hydrogen and impose a price premium on the final products, as they are manufactured entirely from clean energy, in order to generalize the use of this type of energy in the future with lower prices.

In a separate session within the forum, the Saudi Minister of Energy, Prince Abdulaziz bin Salman, added to the challenges of transitioning to clean energy, pointing to several factors such as the lack of clarity in policies, the absence of incentives and challenges in the areas of production and development, in addition to the need to establish incentive controls to enhance the transition towards energy. Clean.