Green Hydrogen In The Global Economy

Renewable hydrogen: a strategic opportunity for global green recovery

Francesco La Camera and Kadri Simson, 10 July 2020 (EURACTIV)

“…[The European Commission green hydrogen strategy sets out] a dynamic hydrogen value chain in Europe in the next five years…[anchored in its] commitment to zero emissions by 2050…[To deliver, the EU needs] renewable based electricity, but also decarbonised fuels in sectors where electrification is not an option – like heavy industry, some areas of transport or heating…Hydrogen can fill many of these gaps…[It can also] balance a renewables-based electricity system by turning electricity into hydrogen when the wind blows or the sun shines and store large amounts of this power to be used later…We need well-designed policies to make renewable hydrogen cheaper…

click to enlarge

This is achievable. Renewable power is already increasingly cheaper than any new electricity…[and is] expected to decrease… [E]lectrolyser costs are already five times lower than five years ago, and are expected to further decline within the next decade…In Europe, hydrogen currently makes up less than 2% of the energy mix – it could be 13-14% by 2050…Around USD 20 billion dollars could be needed per year globally…Collaboration at global level can be a multiplier for national strategies…Hydrogen is not an answer to all the questions on the clean energy system of the future, but it can answer some of the hardest…” click here for more

click to enlarge

Tweet