Renewable hydrogen has the potential to slash the global greenhouse gas emissions of fossil fuel power generation and industry by more than one third, at a cost competitive with natural gas, new research has found – but it’s not the answer for low-carbon automotive transport. Bloomberg New Energy Finance’s Hydrogen Economy Outlook, published Monday (US time) finds that with large-scale geological storage and the right policies in place, renewables-produced hydrogen could be used to replace natural gas in both dispatchable power generation and industrial applications. The report – just the latest in a raft of studies talking up the potential of green hydrogen – finds that solar and wind-based hydrogen could be produced for $US0.8 to $1.6/kg in most parts of the world before 2050, putting it on par with current gas prices on an energy-equivalent basis. The cost could be even lower in renewables-rich and spacious countries like Australia, the report says, where hydrogen could be produced from solar and wind farms that might otherwise be curtailed, stored and transported back to a generator at a cost between $8-14/MMBtu by 2050.
Renew Economy 31st March 2020 read more »
A major rollout of green hydrogen technologies could offset up to one third of global greenhouse gas emissions produced by fossil fuels and industry by 2050, according to a new report today by BloombergNEF (BNEF). The influential analyst’s ‘Hydrogen Economy Outlook’ estimates renewable hydrogen could be produced for between $0.8 to $1.6/kg in most parts of the world within the next three decades, a cost roughly equivalent to today’s natural gas prices in Brazil, China, India, Germany, and Scandinavia. But to reach that price point, approximately $150bn of subsidies over the next 10 years would be needed to scale up the technology and build necessary supply infrastructure, alongside joined-up policy coordination across government and new frameworks for private investment, BNEF said. As things currently stand, however, policy support for the hydrogen economy is “insufficient”, the report notes.
Business Green 30th March 2020 read more »