Economic viability holds key to hydrogen’s success as a clean source of energy in India
Infrastructure, availability of vehicles and at-scale equipment are key barriers, beyond unit economics and the cost gap.
Global attempt to increase momentum for clean H2
Australia, Japan, China & Republic of Korea in Asia Pacific region have already made commitments to use clean hydrogen and decarbonize their energy systems. Clean hydrogen is gaining grounds in Europe as well as in US and is having good hopes in India as well for registering growth. Globally, industries such as shipping, steel making, and chemical production see hydrogen as a long-term alternative to their dependence on fossil fuels. Interest has been bolstered by the falling costs to produce and use hydrogen. Over the past decade, for example, the cost of generating electricity from wind has fallen by about 70%, and from solar PV by about 80%. The cost to make a hydrogen fuel cell, meanwhile, has fallen by about 60% since 2006. With foreseeable technology improvements and higher manufacturing volume, it is anticipated that the cost of fuel cells might fall by about another 30% by 2025. The cost of storing hydrogen will also become cheaper with scale, technology and efficiency improvements – by up to 40% as ammonia and up to 80% as liquid hydrogen. As costs fall, clean hydrogen will become increasingly competitive. When and where this occurs will also depend on factors such as the cost of alternatives.
More market research, advisory & consulting services to discover
At Eninrac, we offer a wide range of market research, advisory & consulting solutions, from Business Intelligence to Benchmarking services. We put ‘search’ in research to help expand your business with ease. Discover all the possibilities now.
No comments yet