Hydrogen is the future of energy, while green hydrogen is the key to clean energy transition. Emerging applications to decarbonize hard-to-abate sectors have accelerated demand for hydrogen derived from renewable energy.
The visionary implications of green hydrogen can be categorized in 4 scenarios: Limited resourcefulness, long-term clean energy strategies, tech innovation and diversification, and green hydrogen economy unlocked. Government support, regulatory framework, trade development, and technological innovations augment these scenarios. In recent years, green hydrogen has gained momentum, and governments around the world are highly invested in this trend, as it could be the solution to the growing energy crisis, carbon emissions, and global warming. Currently, only 0.1% of global hydrogen accounts for green hydrogen production, and the demand for green hydrogen is estimated to rise to almost 100 million tons by 2030. Production technology innovations and a robust regulatory framework are needed to meet this target.
The private and public sectors are harmonizing to increase green hydrogen contribution to 12% of the total hydrogen production. The high costs involved in green hydrogen production due to weak government policies, incentives, and immature technology pose a significant challenge to the growth trajectory of the green hydrogen economy.
GROWTH PIPELINE DIALOG™
Take your first step towards achieving growth-centric solutions with our
Growth Pipeline Dialog™. Speak to our industry experts in a complimentary open discussion that will spark innovative thinking and growth opportunities that will benefit your organization.