Hydrogen energy has long been touted as the future of renewable energy, but numerous hurdles have stood in the way of its widespread adoption. However, recent technological advancements, substantial investments, and growing concerns about climate change have coincided to make hydrogen energy a more viable and attractive option than ever before.
The Hydrogen Energy Landscape
The number of green hydrogen projects worldwide skyrocketed in 2020, showing that global interest in this form of energy is building at a rapid pace. Countries like Australia, Germany, Japan, South Korea and the U.S. have all shown a keen interest in developing and investing in hydrogen technologies. Public and private sector investments in these countries have reached billions of dollars, and there are now over 200 green hydrogen projects reported globally.
The argument for hydrogen energy is compelling: when produced using renewable energy, it essentially provides a way to store and transport energy without any harmful emissions. This could be key in solving the endemic intermittent issues associated with wind and solar power.
Storage and Transportation
Storage and transportation have historically been the major stumbling blocks for hydrogen energy. Because hydrogen is the lightest element on the periodic table, it requires considerable energy to compress or liquefy for transportation. It also requires high-pressure tanks for storage, which can be costly.
However, advancements in solid-state hydrogen storage and the development of novel transportation methods are offering a new glimpse into the future of hydrogen energy. According to recent data published by green hydrogen developers, technical solutions are now becoming available which can store more hydrogen in less space at lower pressures.
Investors and Global Trends
As green energy becomes an ever more pressing global concern, investors are taking note. In 2020, private sector investment into hydrogen power reached a record high with several major energy industry players announcing significant forays into the hydrogen space.
Moreover, international policies are moving in favor of hydrogen. The EU’s Hydrogen Strategy, launched in 2020 and set to put the bloc on a path to create a clean and globally competitive hydrogen sector, is a prime example of this.
The Future of Hydrogen Energy
Despite all the excitement and advancements, the future of hydrogen energy still remains uncertain. Current hydrogen production is dominated by fossil fuels, and green hydrogen is still expensive to produce. Nonetheless, as technology advances and climate commitments intensify, the potential for hydrogen to play an instrumental role in the future of renewable energy cannot be overlooked.
By striking a balance between the benefits of hydrogen energy and addressing its challenges, we can go a long way in utilizing this promising resource to achieve a more sustainable, renewable energy future.
The Future of Hydrogen Energy: A Paradigm Shift in Renewable Energy
