Green Hydrogen As A Key To Carbon Free Economy
As more countries are interested in adopting decarbonization strategies, hydrogen has a critical role. Applying this feat will be particularly difficult in sectors where direct electrification is challenging, for example, in harder-to-abate sectors, such as steel, chemicals, long-haul transport, shipping, and aviation. The pre-requisite for this is for hydrogen production to involve lower carbon and, ultimately, a green mode of production. This green hydrogen is produced by water electrolysis using renewable forms of electricity. In addition to system regulations and market design, production costs are considered a significant barrier to green hydrogen uptake. Prices of renewable power sources are falling, but green hydrogen is still double as expensive as the blue hydrogen produced from fossil fuels, including carbon capture and storage, making it unsustainable. Further cost reductions are needed to broaden companies' use of green hydrogen. The most significant production cost...