Hydrogen production is one key to the electrification of everything. It’s a form of energy storage that could be switched on when power generation is high but demand is low, and then redirected to do the jobs that are hard to do with electricity.
The technology is nearing commercial viability but needs to be scaled up — as quickly as possible. It’s but one of many areas where we have the potential to accelerate our progress towards Net Zero.
Their project leaders need to leverage everything we know about how to de-risk, scale and execute as the technology moves from the lab into full-scale applications.
Recent analysis suggests a $2/kg price represents a potential ‘tipping point’ that could make green hydrogen and green ammonia the energy source of choice across multiple sectors, including steel and fertiliser manufacturing, power generation, and long-range shipping.
Advocates of hydrogen argue that reducing the cost of green hydrogen could also open up the prospect of it being used as a form of energy storage for power grids, as well as a fuel for home heating and vehicles. However, some experts have counselled that with other technologies available to decarbonise power and light transport hydrogen should be initially reserved for industrial sectors that are harder to decarbonise.
Source: Energy giants team up for 25GW green hydrogen ‘moonshot’
