Unleashing the Power of Green Hydrogen: The Rising Market for Electrolyzers
Green Hydrogen refers to hydrogen generated using renewable energy primarily from solar energy and wind energy. The hydrogen is generated through electrolysis of water. Due to rapid increase in climate change and huge investment creating challenges to green hydrogen energy.
Future of Green Hydrogen Production
The limitation of all the source of renewable energy depends on weather conditions which increase reliance on fossil fuel which can provide convenience and constant output irrespective of time and weather.
To reduce the dependency on use of fossil fuels and to minimize the Green House Emission, countries are started opting for hydrogen energy.
There are 4 types of Hydrogen Energy
- Brown Hydrogen: – Carbon fueled delivered hydrogen
- Grey Hydrogen: – Industrial process delivered hydrogen
- Blue Hydrogen: – Carbon fueled delivered hydrogen with ccs
- Green Hydrogen: – Low Carbon derived hydrogen
Green Hydrogen are getting popular as the world is moving towards low carbon emission and also looking for alternative for the fossil fuels. Green Hydrogen emits water vapor and leaves no residue in the air, unlike coal and oil.
Cost of green hydrogen from water electrolysis
Green hydrogen stocks have been attracting attention for a while now, especially since COP26 (the United Nations Climate Change Conference) and the publication of a special UN report into the future of climate change. With so much public support and private angel investment into green hydrogen, many ordinary investors are also considering buying into hydrogen companies’ stock.
WHAT IS GREEN HYDROGEN USED FOR?
As green hydrogen is a future fuel it is going to dominate the fossil fuel. Majorly hydrogen is used for energy generation but slowly companies like Toyota through their cars like Mirai exploring the opportunities to power the vehicles. More than 80% of the hydrogen produced today is used to make ammonia, a crucial ingredient in fertilizer, and to remove sulfur from in fuel oil refining. The remainder is used for other chemical processes, for certain glassmaking processes and in the production of plastics and printed circuit boards.
Region Insights
In 2020, the European countries dominated the green hydrogen market globally. The hydrogen is becoming primary source of energy in Europe. On the other hand, in the Asia-Pacific it is estimated that China will dominate in green hydrogen energy. With a 20-million-ton output, China leads the global green hydrogen market, accounting one third of global production.
Conclusion
Green Hydrogen is the future, where government of developed, developing and small countries are showing keen interest. As fossil fuel availability is very limited to some countries which can manipulate the prices of crude oil. Green Hydrogen plays vital role in this as countries can become self-reliant. Due to increase exploitation of natural resources global warming increases. There is agreement like Paris agreement where European countries came together to cooperate and reduce dependencies on fossil fuel.
Whereas emerging economies like India, has announced various incentives related hydrogen energy. All this change in trends and behavior of government will leads to rapid shift towards green hydrogen.
Author: Samrat Singh