First in a Series
Regardless of one’s position on climate change, nations have pledged to decarbonize and reduce greenhouse emissions. One of the key players in the replacement of fossil fuels will be GREEN HYDROGEN, an energy source that may well redefine the energy landscape!
In the U.S. today, fossil fuels, including hydrogen, are used for transportation; power generation; petroleum refining; fertilizer, chemical, food and steel processing; concrete production and a myriad of other industrial applications. Green hydrogen, which is produced through the electrolysis of water (breaking down water molecules into hydrogen and oxygen) using renewable energy sources (such as wind, solar or hydro), has the ability to become THE industrial heat to replace natural gas and other fossil hydrocarbons.
But the benefits do not stop with the reduction of greenhouse gas emissions. The development of green hydrogen will have additional positive effects upon our economy. Here’s just a few.
- The Creation of new Industries and Jobs – In the U.S., there are already 30 major green hydrogen projects slated for the next 5 years, with a total value of $14+ Billion. Five (5) major green hydrogen projects will be in operation by the end of this year alone!
- Energy Independence & Security – With our country’s growing renewable energy infrastructure and tax incentives, the U.S. is poised to become the world’s green hydrogen superpower. The U.S. will become more energy independent, less vulnerable to the price fluctuations of fossil fuels and less dependent upon the importation of those fuels.
- New Technologies & Infrastructure – The production, storage and transportation of green hydrogen will require the development of new processes, systems, supply chains and materials. This new robust infrastructure can only be created through technological advancements and innovations, spurring capital investments.
In order for green hydrogen to become the player it has the potential to become, many companies with familiar names such as Air Liquide, Air Products, GE, Linde and Siemens are making major investments in its development. Along with these majors are some new entries that have also been working on green hydrogen’s future and we will talk about their work in future articles.
Thank you for visiting our Blog page and reading about green hydrogen. Still to come are the challenges involved in its development, the role that the U.S. government and our Treasury Department must play, a look at the projects & players in this exciting field and the infrastructure that will support the utilization of this energy source.