Hydrogen is a huge play around the world right now – but we are only at the start of things.
Green hydrogen using electrolysis powered by renewables is what’s being promised as coming down the line, backed by substantial government incentives in many parts of the world, and a big push on innovation that aims to bring down costs.
But mostly it is in the pipeline rather than here. As things stand, nearly all the hydrogen production around the world is made from steam methane reforming, and mostly in support of the petrochemicals industry.
In the next few years and further out, this situation will change profoundly. Looking beyond 2030, as the build-out of wind, solar and storage generation assets delivers support for lower carbon grids, and as electrolyzer costs really come down, renewable green hydrogen production and power-grid decarbonization will become established and ramp up fast. That is the green future that is coming.
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