Post-hype realism: What economically sustainable roles are there now for electrolytic hydrogen and e-fuels?

Guest article published in Green H2 Magazine, 2025 issue —the official journal of the World Power-to-X Summit, held October 1–2, 2025, in Marrakesh.

The hydrogen bubble had ballooned significantly since the publication in 2018 of the IEA’s first report dedicated to this fuel. Then the sector experienced a significant deflation of expectations and several industrial setbacks. What remains of the bubble, and what roles are still relevant and economically realistic for hydrogen and synthetic fuels in building a low-carbon economy?