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“71% of a global greenhouse gas emission since 1988 can be traced back to just 100 fossil fuel companies” We see how pollution is on peak due to emission of carbon in the environment. With increase in use of fossil fuels, there is increase in pollution as well.
As per the consumption of energy, it is estimated that global energy demand by 2040, will increase somewhere between 25% to 30%. Considering broad spectrum of this fuel, green hydrogen is going to rule the energy supply systems. Green Hydrogen is nothing but basically deriving the hydrogen from water by splitting hydrogen and oxygen from each other using the process of Electrolysis. The by-product of this process is that it only produces hydrogen and oxygen is sent out to the environment using a vent without any Co2.
In this blog today, you are surely going to understand how Green Hydrogen is the fuel of Future. Also, you will understand that it can reduce the scope of carbon emission in the environment.
Green Hydrogen has been named in among the top 10 emerging technologies of 2020 by world economic forum. Hydrogen can be considered as a powerful fuel because it is a transportable energy carrier and it can produce electricity, power industry and helpful in Transportation. On the contrary of other fossil fuels, when hydrogen is burnt, it only leaves water as a by-product, which shows that no harmful emission in the environment.
Green Hydrogen is derived by a process which causes no harm to environment due to no emission of carbon dioxide, which makes it an ideal fuel which can be used in future. We can say that Green Hydrogen is good for its property to not emit the carbon dioxide leading to zero emission of carbon dioxide in the environment.
Market Size for Global Green Hydrogen was 786.9 million in the year 2019, which is expected to grow with a CAGR of 14.24% from the year 2020 to 2027. Due to its huge potential, some forecasts predicts that green hydrogen market go to $10 trillion market. This clearly states that Green Hydrogen is going to be a good investment.
It is forecasted that energy sector is the largest contributor in the world’s pollution. Substituting fossil fuel buy green hydrogen will dramatically reduce the emission of harmful gaseous in the environment.
It can be a best fit solution for transportation reducing the carbon emission. Cells powered by hydrogen operate with high efficiency and can greatly reduce the environmental impact. Also, it can be transported with the help of pipelines. Reducing further dependence on fossil fuel. This clearly proves that Green Hydrogen is the Future of clean energy. Making green Hydrogen a sustainable option for the future.
Globally the demand for the green hydrogen is about to expand due to the distinct properties and improved functionality. The industries where green hydrogen can be extensively applicable are:
· Oil and Gas
· Electric Vehicles
· Power Generation.
The most promising field for green hydrogen is Electric Vehicle Market. The electric vehicles industry can be said as another emerging application area for green hydrogen.
Evolution of various technological advancements have led to increased production of green hydrogen. Technologies that are part of the evolution of green hydrogen are:
· Proton exchange membrane
· Alkaline electrolyzer
· Anion exchange membrane
· Solid oxide electrolyzer
In regional Markets of North America, like US, Canada and Mexico. We can say that US is the largest market with the fastest growth rate in Green Hydrogen. US has always been in forefront of the Technological Advancements. Due to this, companies which are not based in US have a significant presence in the US either because of R&D, Manufacturing facilities or bases.
Plug Power Inc.
Siemens Energy etc.
From all this, we can conclude that green hydrogen is a wonderful alternative which can replace the use of fossil fuel and help the environment in a more sustainable way. It is sure that we are going to encounter the use of green hydrogen in future, but a subsequent amount of resources time and energy is required for this. It is a way by which we can reduce the emission of carbon in the environment. We hope that this blog added value to your information arsenal and you must have understood that Green Hydrogen is the Fuel of Future.