Hydrogen has great potential as a carbon-free energy carrier.
According to McKinsey, by 2050, clean hydrogen could help abate seven gigatons of CO2 emissions annually, which is about 20 percent of human-driven emissions if the world remains on its current global-warming trajectory.
More than 680 large-scale hydrogen projects have been announced globally. The projects include gigascale production, large-scale industrial usage, transport, and infrastructure. In Europe, which accounts for 314 of announced projects, hydrogen is expected to play a significant role in meeting decarbonization targets. Among announced projects in China, roughly half the total announcements from Asia, most focus on hydrogen use in transportation. In North America, target is to boost domestic supplies of low-carbon energy across multiple applications. Additionally, hydrogen export hubs have been announced in Africa ( click for our post ), Latin America, the Middle East, and Oceania. These hubs could feed growing demand in Asia and Europe, for example.
Today, most hydrogen is produced with fossil fuels, also known as grey hydrogen. Green hydrogen, the clean hydrogen is produced with renewables. And the blue hydrogen, with fossil fuels combined with measures to significantly lower emissions, such as carbon capture, utilization, and storage.
Hydrogen is complementary to other technologies, such as renewables and biofuels, and can help decarbonize a variety of sectors:
steelmaking, ammonia synthesis for fertilizer production
fuel for heavy-duty trucks, maritime shipping and aviation, including synthetic fuels for vessels
building heating
long-term storage for power grids
Click at the image below to read more and see the 5 graphs prepared by McKinsey.
