Future of Green Hydrogen
Green hydrogen holds great potential as a clean and sustainable source of energy, and experts believe that it could play a key role in the transition to a more sustainable energy future. Green hydrogen is produced by splitting water into hydrogen and oxygen using an electrolyzer powered by renewable energy sources such as wind or solar power.
One of the major benefits of green hydrogen is its versatility as a fuel source. It can be used in a variety of applications, including transportation, heating, and electricity generation. Green hydrogen can be stored, transported, and used on demand, making it a flexible and reliable source of energy.
According to a report by the International Energy Agency, hydrogen and its derivatives could account for 12% of the world’s energy consumption by 2050, with two thirds coming from green hydrogen (made with green electricity) and one-third from blue hydrogen (made from fossil fuels and using carbon capture). The report also notes that green hydrogen could help to decarbonize energy-intensive sectors such as steel, chemicals, and heavy transportation, which are challenging to electrify with current technologies.
Governments around the world are also showing an increasing interest in green hydrogen. For example, the European Commission has included a target to scale up production and use of renewable hydrogen in its European Green Deal, and the German government has launched a National Hydrogen Strategy with a goal to become a global leader in green hydrogen technologies.
In the United States, the Department of Energy has recently launched a multiyear initiative to reduce the cost and improve the performance of electrolyzers, with a goal of reducing the cost of green hydrogen to $1.5 per kilogram by 2030. The Biden administration has also proposed a $2 billion plan to build a clean energy infrastructure that includes investments in green hydrogen technology.
While the development of green hydrogen faces challenges such as the high cost of production and the need for significant infrastructure development, including pipelines and storage facilities, the potential of this energy source is significant. Continued investment and innovation are necessary to scale up green hydrogen production and make it more economically competitive with traditional fossil fuel sources.
To summarize, green hydrogen has the capacity to serve as an eco-friendly and sustainable energy source that can address the planet’s rising energy requirements while reducing greenhouse gas emissions. Governments and industries around the globe have recognized the significance of supporting green hydrogen technology in order to achieve a more sustainable energy future.
