To lower greenhouse gases, we must deliver the volume of ‘green’ hydrogen required for the global green energy transition.
Yet, according to the International Energy Agency’s (IEA) recent roadmap for attaining net zero emissions by 2050, the amount of “green” hydrogen needed to support a global transition to green energy would require as much electricity generation as 4/5 of global production.
Also, just 29% of global electricity production comes from renewable energy sources.
Another limit to hydrogen energy development is the reliance on nickel to make electrolyzers, which accounts for a large proportion of electric car batteries.
How can we produce enough electrolyzers to meet the demand for the ‘green’ hydrogen market and make enough electric vehicles to meet growing consumer demand?
The IEA’s Net Zero roadmap estimates that we need to roll out 850 gigawatts (GW) of electrolyzer capacity by 2030, compared to just 0.3GW in production today.
Both issues arrive at one conclusion:
Scaling hydrogen would lead to increased electricity consumption, which will be difficult to satisfy with renewable energy sources alone.
Hydrogen may seem like the smallest element, but it plays an enormous role in transitioning to a low-carbon economy. Even though the importance of green hydrogen is now apparent, the global society needs government investment support programs for green technology in the foreseeable future to be “just in time” with climate targets.
Synvance advises companies regarding their key transformation activities from identification to business-as-usual. This also includes a structured approach to applying for/calling institutional funding.