Kategori : ELECTRICITY ENERGY NEWS, ENERGY AGENDA NEWS - Tarih : 12 February 2020

If the hydrogen economy is to advance, it must receive investment support of $70 billion by 2030. That’s according to the Hydrogen Council, which says that the cost to produce and distribute hydrogen from clean energy sources will fall by as much as 50% over the next decade.

Today most hydrogen is produced in reactions involving coal and natural gas, and is considered “grey hydrogen” that does nothing to limit CO2 emissions. The goal, though, is to produce hydrogen from low-carbon energy sources and to expand its use into the transportation and power generation sectors.

“2020 marks the beginning of a new era for energy: as the potential for hydrogen to become part of our global energy system becomes a reality, we can expect fewer emissions and improved security and flexibility,” said Benoît Potier, chief executive of Air Liquide and co-chair of the Hydrogen Council. “A clean energy future with hydrogen is closer than we think because the industry has been working hard on addressing key technology challenges.”

The Path to Hydrogen Competitiveness: A Cost Perspective — performed by McKinsey & Company — examines 25,000 data points and looks at 30 companies. The analysis involves the entire hydrogen value chain and includes the United States, Europe, Japan, South Korea and China.

Two key drivers are working in green hydrogen’s favor: the cost of renewables continues to fall while the urgency to reduce greenhouse gas levels has picked up steam, all under the banner of the Paris climate agreement. Hydrogen from renewable power is technically viable today, says the International Renewable Energy Agency (IRENA), noting that its price will one day be on par with that of “grey hydrogen” from coal and natural gas. Green hydrogen is already more cost-effective than “blue hydrogen” that utilizes carbon capture technologies.