Edison Group have released a new report looking at the rising development of the Hydrogen industry, despite the lack of regulatory support and financial stimuli from government.
Edison Group (the UK investment research and advisory firm) name the report ‘The Hydrogen Economy – Decarbonising the Final 20%’, which looks in depth at the global hydrogen industry.
The report acknowledges the crucial role renewable hydrogen must play in decarbonising the final 20% of global energy consumption, in order to limit global warming to 1.5oC.
As wind and solar’s popularity grows in certain sections of the transport and power sectors, green Hydrogen is increasingly understood to be the best placed carbon-free solution to power heavy-transport (freight as well as passenger double-decker buses where fuel cells are of course a better fit than batteries), but also steel making, and heating.
“Prospects are brighter in other transport sectors where the level of energy required is much greater and where hydrogen’s high energy per mass gives it a big advantage.” Says Dan Ridsdale, Edison Group TMT group global head.
However, unless governments provide investment and policies to boost adoption of hydrogen, parts of the market will not reach self-sufficiency, despite falling production costs – this will obviously slow down market growth considerably.
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By Tim Daukes 7.1.2021
