While renewables are now the fastest growing energy industry, hydrogen is following closely behind in a massive gale. The 21st century will likely witness the rise of a mega-billion hydrogen fuel industry. Countries are taking initial steps to pursue green hydrogen as an energy solution and it is clearly becoming an innovative trend. The Institute of Energy Economics and Financial Analysis (IEEFA) is tracking dozens of green hydrogen electrolyzer projects around the world with a theoretical combined capacity of 50 GW worth $75 billion. To learn more, read “The Green Hydrogen Revolution Is Now Underway.”
- With the announcement of its 10-year $10.5 billion Green Hydrogen roadmap earlier this month, Spain joins a slew of other countries seeking to develop a zero-emission fuel for trucking, aviation, and shipping.
- OPEC leader Saudi Arabia is building a green hydrogen facility,capable of producing 650 tons of green hydrogen fuel per day, in its cutting-edge futuristic city of Neom.
- Korea and Japan have both rolled out roadmaps to guide hydrogen-related investment and policy in coming years, including encouraging hydrogen fuel cell vehicle (HFVC) production.
- The Toyota Mirai is an HFCV unveiled in 2014 and has 10,300 worldwide sales since December 2019.
- Korea’s Hyundai is producing the hydrogen powered SUV Nexo.
- China’s Hebei province approved $1.2 billion of projects for hydrogen equipment manufacturing, filling stations, fuel cells and hydrogen production, including electrolysis.
- Perhaps the most ambitious project so far is the Asian Renewable Energy Hub based in Pilbara, Western Australia. The $16 billion initiative could see green hydrogen shipments as early as 2027.
Path to 100% Perspective:
Power-to-hydrogen is an alternate pathway to get to 100% clean energy. Hydrogen as a fuel is carbon free. However, there are costly investments involved with adding hydrogen to the mix because the infrastructure for this fuel still needs to be developed. Thermal power plants designed to burn methane typically cannot burn 100% hydrogen. Existing gas storage facilities, pipelines, compressor stations and distribution lines typically cannot handle 100% hydrogen without expensive upgrades, if not complete replacements. Still, hydrogen is an efficient and carbon-free alternative to renewable synthetic hydrocarbons and is worth investigating.
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