November 12, 2020 Read More →

Green H2 catching attention of oil supermajors

Renewable Energy World:

Joe Biden has promised that the first day he is President, he will rejoin America to the Paris climate agreement. More than that, he can use the power of the presidency to drive the adoption of clean technologies, such as the hydrogen fuel projects that are now advancing worldwide.

Because the giant blades spinning in the wind and the fields of solar panels that are now part of our geography could be doing a lot more for us. When the electricity they generate doesn’t match moment-by-moment demand, it could power electrolyzers that split plain water into oxygen and “green” hydrogen – a fuel you can store for next week, and next season.

Fossil giants like Shell and renewable energy producers with extra power on their hands like NextEra are entering the sector. But although 50 new green hydrogen projects were announced in the past year, the Institute for Energy Economics and Financial Analysis reported in August, it’s not yet enough to keep up with global demand. They predicted a “drought,” with 8.7 million tons of demand chasing 3 million tons of supply in 2030, and blamed a lack of capital and government-led action, stalling start-ups. 

[Mona Dajani]

More: Green hydrogen, Holy Grail for long-term energy storage, getting supermajors’ attention

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