The EU has decided to target 33% of its installed capacity from renewable sources, following the largest year-on-year (YOY) percentage growth in total installed capacity. Having set themselves difficult solar targets, key EU countries are looking at green hydrogen to boost their renewable drive, supported by the recently announced €1.85tr ($2.07tr) fiscal stimuli. However, large-scale deployment of low-cost solar PV could greatly aid in bringing down the cost of green hydrogen for commercial and sustainable usage and the target capacity additions set by leading EU economies may be a little high.

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