TOKYO, June 6 (Xinhua) -- The Japanese government on Tuesday approved a new strategy for the promotion of hydrogen, involving generating 15 trillion yen (107.76 billion U.S. dollars) of investment from both public and private sectors to accelerate its use in the country's push towards decarbonization.
Under the first revision in six years to the country's basic hydrogen strategy, it was also decided that the hydrogen supply would be increased sixfold.
This would significantly increase from the current 2 million tons to a supply of around 12 million tons by 2040.
Since the government's basic strategy on hydrogen was formally announced in 2017, Japan wanted to place itself as a leader in creating a "hydrogen society."
It planned to push the use of hydrogen as no carbon dioxide or other greenhouse gases are emitted when combusted and has been promoting its use for thermal power generation.
In addition, the government has been encouraging the use of hydrogen for cars' fuel cells and other technologies utilizing hydrogen, such as water electrolysis.
But the government faces the issue of high production and transportation costs of hydrogen and whether industries and individuals will switch from a long-held reliance on regular fossil fuels.
"We would like to steadily build a supply chain for hydrogen in Asia and the Indo-Pacific region by further expanding Japan's hydrogen technology, which has been world-leading," Economy, Trade and Industry Minister Yasutoshi Nishimura told a press briefing on the matter.
Challenges notwithstanding, the government hopes companies will use hydrogen more and encourages them to do so as part of its strategy by 2040.
Prior to that, by 2030, the government plans to achieve the commercialization of hydrogen power and eyes hydrogen supply, reaching 3 million tons in 2030 and around 20 million tons by 2050.
Japan's revised hydrogen strategy, which also involves the construction of larger vessels capable of importing higher quantities of hydrogen, is part of its broader plans to achieve a country with net-zero greenhouse gas emissions by 2050.
