The climate emergency is a pressing concern that has to be addressed decisively and collectively by all the nations.
Hydrogen Council, a group of leading innovation and technology companies with an umbrella of prominent investors have come along to explore and realize the complete potential of hydrogen energy across various industries in the quest to go net zero. Hydrogen is the only fuel that gives water vapor on combustion and therefore is at the forefront of the global energy transition.
Hydrogen energy is categorized by its many colors. Hydrogen produced using renewable energy is called green hydrogen, the most desired form of hydrogen as it non-polluting thereby accelerating the effort of achieving the net-zero goal. Today, most of the hydrogen produced is using natural gas therefore called grey hydrogen, an undesired and polluting way of obtaining hydrogen. Nevertheless, the projects that have come up recently and are underway have clearly indicated that hydrogen is at the heart of the energy transition, there are also advancements on the technology side that will bring down the cost of hydrogen production over the coming years, the U.S. Department of Energy’s (DOE’s) Energy Earthshots aims for a 111, the Hydrogen Shot initiative has envisioned and aimed to reduce the cost of clean hydrogen by 80%, to $1 per 1kilogram 1 decade. This will have tremendous impact in terms of de-carbonization of the energy economy, will also lead to creation of millions of jobs worldwide.
Hydrogen seems to offer abundant opportunities for investment in the future, creation of jobs, a cleaner and greener planet – a promise for a better future.