By investing in the hydrogen sector, we increase the development of higher energy-to-mass ratio energy, that makes hydrogen power perfect to replace coal and gas in industrial processes.
Hydrogen has a long history of providing energy for new forms of transport and being promoted as the next big thing. It fuelled the first combustion engines and was used in the early airships of the 1920s and the lunar rockets of the 1960s. In addition to its role as a transportation fuel, it has potential applications in energy storage, replacing or supplementing natural gas in heating systems and fuelling industrial processes.
In a recent hydrogen-focussed report by the Edison Group looked into the development of the hydrogen industry and its future. This report highlighted what could potentially happen if the hydrogen sector does not receive the regulatory and financial support it needs from government investment. Neil Shah, Edison Group director of research said: “It is difficult to imagine net-zero being achieved without significant growth in green hydrogen. Yet governments must lead from the front through prolonged investment and the right policy frameworks, and this level of support will go a long way to dictating how the next decade will look from an investor viewpoint.”
The report is an in-depth look at renewable hydrogen and how it can be used in various sectors of the global economy to achieve net-zero carbon emissions by 2050. This roadmap of sorts outlines the potential for green hydrogen as well as the need for government investment to decarbonise the larger industrial sectors that require a higher energy-to-mass ratio.
To read the full report click on the link below:https://www.edisongroup.com/wp-content/uploads/2020/12/Edison-Hydrogen-report-v10.pdf