Hydrogen has become the new Holy Grail for energy.
People love it because It offers the highest energy content of any common fuel by weight. It packs three times more energy than gasoline, explains IEA but it has the lowest energy content by volume (about four times less than gasoline). But when it is compressed and liquefied, it becomes heavier, and can release immense amounts of energy. That also explains why almost all rocket fuels use compressed hydrogen.
It was important enough for it to be taken up as a subject at COP23 in Bonn – in November 2017 — where 18 key leaders in their industry verticals, united in the Hydrogen Council coalition. They launched the first ever globally quantified vision of the role of hydrogen, developed with support from McKinsey. The deliberations showed that in addition to being a key solution to global warming, it had the potential to develop US $2.5tn of business, and create more than 30 million jobs by 2050 (https://hydrogencouncil.com/en/hydrogen-scaling-up-new-roadmap-launches-at-cop-23/).
In 2017, experts believed that they could bring down the price of hydrogen production to $3 per kg. But the planners had not reckoned on the way solar costs would continue to plunge, as would battery costs as well. Conventionally, hydrogen is created either through reforming methane or hydrocarbons or through electrolysis. The former allows carbon to get generated, so is not the best solution for reducing emissions. The latter has been too expensive. But with solar costs dropping even now, making it cheaper than thermal power, using solar energy for electrolysis could become the most probable route. Another route could be wind or wave power. The latter has the potential of becoming immensely popular (https://asiaconverge.com/2022/01/wave-energy-could-become-the-next-big-source-of-energy/). Hydrogen is used mostly in refineries, explosives, fertilisers and for rockets
Now everyone is talking about reducing the price to $1 per kg. Reason: solar power, which reduces electricity costs, making electrolysis cheaper. And that is where many believe that China with its huge installed capacity of solar as an edge. It has a huge coastline on its east, and has access to the Arabian sea through the CPEC. It could produce hydrogen more cheaply than any other country. But it has not yet come out with numbers. Its planners have assured the global Hydrogen Council coalition that it will do so soon.
Everyone is waiting with baited breath. For more Read https://asiaconverge.com/2022/02/hydrogen-the-new-holy-grail/
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