On 29 May 2020, the Norwegian government put forward a "Green transition package" of NOK 3.6 billion. The investment objective is to underpin the green transition and use this as the motor of accelerating out of the COVID-19 impacts on energy and industry. Solutions such as hydrogen, building renovation, batteries, offshore wind, circular economy, green shipping and other forms of green energy are mentioned specifically.
Funding will be provided through public and public-private mechanisms whereof the bulk will focus on supporting medium to high TRL activities supporting industrial competitiveness in emerging solutions. Following the announcement a hydrogen strategy was launched. Implementing a hydrogen economy would decarbonise the economy and improve Europe’s ability to reach climate goals. When used, hydrogen only emits water. But for hydrogen to be a low or emission-free energy carrier, it must be produced with no or low emissions, for example by electrolysis using renewable power or from natural gas with CO2 capture, transport and storage (CCS). Hydrogen can also support the phase in of less controllable renewable power and become the preferred option for storing large amounts of energy over longer periods.