Green hydrogen, a clean-energy renewable fuel, is undergoing a global revival and has been described as a renewable energy source that might help the planet reach net-zero emissions in the upcoming years. During the first term of President George W. Bush, when it was dubbed the “freedom fuel.” it was initially hyped in the United States. Today, as part of his renewable energy strategy, Joe Biden, President-elect of the United States is pledging that the United States will be able to obtain green hydrogen at a cost which is similar to that of the traditional hydrogen within ten years. Like Saudi Arabia, Germany, Chile, Japan, and Australia, numerous nations are now investing extensively in it.
In the coming decade, the demand for green hydrogen will expand rapidly; specialists informed ABC News. “It places the focus on [hydrogen] gas for the very first time,” a report which was released in Nature in the month of July said. “And the gas sector is shifting to hydrogen for a fresh start.” However, the drawbacks of green hydrogen could be equivalent to its benefits, Michael Liebreich, an analyst at Bloomberg New Energy Finance, wrote. Bloomberg NEF predicts that green hydrogen will fulfill a fifth of the global’s energy needs with an $11 trillion capital expenditure in development and storage worldwide by 2050 and much more electricity than the globe consumes today.
Compared with natural gas, it carries one-fourth of the amount of power per unit, can embrittle the metal, and is extremely flammable, Liebreich wrote. Furthermore, there is no forecast that new investment and development can sustain demand. A study released in the month of August by the Institute for Energy Economics and Financial Analysis argued that effective ventures are only projected to produce 3 million tons per year, relative to a global aim of 8.7 million tons per year. ABC News talked to experts to decide if green hydrogen is good enough to justify the publicity, considering the expense and resources needed to make it.
When seeking to de-carbonize the oil and manufacturing markets, green hydrogen addresses ‘a range of challenges,’ Randy Bell, who serves as the director of the Atlantic Council’s Global Energy Centre, an independent think tank, informed ABC News. What makes cleaner hydrogen relies on how it’s produced. The large bulk of the hydrogen that is utilized today, “gray” hydrogen is generated from fossil fuels, which in the method releases carbon dioxide. “Blue” hydrogen is produced using natural gas as well as carbon dioxide emissions are then detected, making it safer than gray hydrogen.