Green Hydrogen Driving the Future of Hydrogen

Hydrogen is a powerful, portable energy carrier used to generate electricity, power industries, and facilitate transportation. While burning hydrogen, unlike fossil fuels, it produces just water as a by-product, resulting in no damaging greenhouse gas emissions. As a result, it is a promising fuel for the future. In addition, this new “hydrogen economy” might put developing countries at the forefront.

Energy systems are evolving at a rapid pace as the globe responds to the problems of climate change. Renewable energy, such as wind and solar, has grown in popularity (and cost) over the last ten years to the point where they no longer qualify as alternative energy.

Hydrogen proponents presented the case for the fuel’s significance to the world’s climate dilemma during the COP-26 summit. The International Renewable Energy Agency and the World Economic Forum have jointly launched a ‘Green Hydrogen Toolbox’ to assist countries in their efforts. However, despite its enormous promise, the economics of hydrogen are notoriously difficult for businesses to figure out.

The Rising Demand for Hydrogen

After renewables and, maybe, nuclear power, hydrogen anticipates being the most important energy resource in a world without fossil fuels. According to the U.S. Department of Energy, it will provide 14% of the country’s energy while also reducing current U.S. emissions by 16%. It’s possible that it will account for even more of a global proportion.

However, because of geographic inequalities in the cost of manufacturing hydrogen and hydrogen-based fuels, Europe and East Asia will once again be reliant on imports for a large portion of their energy supply. Securing that supply should be a top priority for nations. Competitive hydrogen produced with renewables has emerged as a major component of the energy mix as global economies strive to become carbon neutral. Uruguay and Finland, for example, are embracing green hydrogen as a renewable energy source to achieve carbon neutrality by 2030. Many businesses are looking for ammonia-powered fuel cells to meet the growing demand for hydrogen.

According to the Astute Analytica report, the global hydrogen market will grow at a CAGR of 6.6% during the forecast period from 2022 to 2030.

Green Hydrogen-Just a color or something important?

The term green hydrogen refers to a solution that is free of contaminants. In addition, renewable energy sources such as the sun and wind help create green hydrogen. Currently, green hydrogen accounts for less than 1% of total yearly hydrogen production, but this is likely to increase as the infrastructure required to produce it expands production prices continue to decline. Green hydrogen would save the 830 million tons of CO2 emitted annually when this gas produces using fossil fuels, according to the International Energy Agency (IEA). Similarly, replacing all grey hydrogen on the planet would necessitate 3,000 TWh of new renewable energy every year.

The Production of Hydrogen

Green hydrogen, unlike grey hydrogen, is 100% renewable in both its source material and energy supply. Green hydrogen manufactures from the water via a technique known as electrolysis, which involves splitting water into its component molecules of hydrogen and oxygen using an electric current. It occurs with the help of an electrolyze, which consists of a cathode and an anode (positively and negatively charged electrodes). Only oxygen – or steam – is produced as a by-product of this process. In terms of energy supply, the source of electricity utilized for electrolysis must be renewable, such as wind or solar energy, in order to qualify as “green hydrogen.”

Green Hydrogen Driving the Future of Hydrogen  

• Decarbonizing previously carbon-intensive processes and businesses require widespread use of green hydrogen.
• More than a third of the world’s energy consumption and more than 20% of U.S. carbon emissions go to the industrial sector. Green hydrogen will replace fossil fuels in industries including steelmaking, refining, and chemical production, resulting in significant reductions in emissions.
• Green hydrogen can also use to replace natural gas-derived hydrogen in industries such as fertilizer manufacturing. Furthermore, It offers a zero-carbon option for transportation, which now accounts for about a third of all carbon emissions in the United States.
• Hydrogen-powered fuel cells are more efficient than internal combustion engines, and they can reduce the environmental effect of long-distance transportation and trains.
• Hydrogen may also be transferred through pipelines to power and heat houses and buildings, reducing dependency on fossil fuels and greenhouse gas emissions even more.

Production costs limit the applications of green hydrogen. Companies are working to create inexpensive, commercial uses of green hydrogen production in order to accelerate the renewable energy transition and provide reliable, cost-effective power that is both business and environmentally sustainable.

The Costing of Green Hydrogen

As per the International Energy Agency, the cost of producing green hydrogen is still high today. It costs $3 to $7.50 per kilo, compared to US$ 0.90 to US$ 3.20 for synthesis via steam methane reformation. Electrolyze costs must reduce in order to lower the price of green hydrogen, but this will take time and scale. According to the International Energy Agency (IEA), electrolyze costs could drop by half by 2040, from roughly US$ 840 per kilowatt of capacity currently.

As the electrolysis process involves a significant amount of energy, It is a business case that requires a significant amount of affordable renewable electricity. Developers will most likely establish green hydrogen production plants with specific renewable energy-producing assets in high-resource regions.

Only a few decades ago, renewable energy specialists promoted hydrogen as a transportation alternative to fossil fuels. Carbon-neutral dreamers believe it is the glue that holds the green revolution together, and it has the ability to provide vital functions for a new energy future.

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