October 19, 2020 Read More →

Hydrogen fuel industry gaining steam

Forbes:

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 first steps – and it’s breathtaking.

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 this once ‘dirty’ chemical feedstock into a zero-emission fuel for trucking, aviation, and shipping. 

According to Bloomberg New Energy Finance (BNEF), there are over $90 billion worth of upstream, midstream, and downstream hydrogen projects in the global pipeline (gray, green, and blue). 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 (though only a fraction of these will come to fruition). Renewable hydrogen in Europe could require 180 billion – 470 billion euros of investment by 2050.

But investment and production is not anticipated to keep up with demand. According to the IIEFA report, they forecast global green hydrogen supply additions of only 3 million tons per year (Mtpa), significantly short of target global green hydrogen demand of 8.7Mtpa in 2030. 

[Ariel Cohen]

More: The Green Hydrogen Revolution Is Now Underway 

Posted in: IEEFA In the News

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