Green hydrogen is a type of renewable energy. It has impressive innovative potential and can easily be converted into electricity or heat. The solution is also an important ingredient in the decarbonization of maritime transport and aviation markets.
So it is no surprise that the global green hydrogen industry size was valued at $786.9 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.24% from 2020 to 2027, according to figures released by Grand View Research. The need for a sustainable hydrogen economy and environmental concerns are further driving the revenue of this sector.
Hydrogen green energy is non-toxic unlike conventional fuels and requires a higher oxygen requirement for explosions, according to experts at GenH2 Discover Hydrogen.
Green Hydrogen Production
The highly reactive light fuel is produced through electrolysis. Electricity is used to split the water, H2O and its components elements of oxygen and hydrogen. There are no emissions in the atmosphere if this power is obtained from renewable sources. This includes solar or wind. It can avoid up to 830 million tons of carbon dioxide annually. The best part of green hydrogen solutions is that the only by-product is water.
Energy technology is a combination of hardware, skills and methods used in the provision of services like producing, storing or transporting, according to an article by Energy Technology Perspectives 2020. Only one of the top green hydrogen companies can leverage years of experience and engineering to dispense the CO2-free gas for the above-mentioned needs.
Benefits of Green Hydrogen
Only 100% commercially viable hydrogen is termed as ‘green hydrogen’ solutions. Have a look at the plethora of benefits it offers to carbon-intensive industries and others.
- Possible to store in gas pipelines to power household appliances
- Can be produced wherever there is water and electricity easily
- Helps transport renewable energy when converted into zero-carbon fuels
- Cells can be fueled for use in electronic devices or electric cars/bikes
- Minimizes carbon footprint in logistics and trucking industry
- Generates electricity independently from grids in military or similar disaster zones
- Produces petroleum products like butane, fuel oil or gasoline
- It is a key element in mining vehicles, lorries, buses, and trains
The top hydrogen industry makes sure it is safer than traditional fuels. This means there are minimum chances of air contamination in the event of a leak or spill. It can greatly reduce the emission from steelmaking, power generation and chemical production.
The Future of Green Hydrogen
Green hydrogen could supply up to 25% of the world’s energy needs by 2050, according to an article by Goldman Sachs. One of the best hydrogen production companies is optimizing numerous technologies to advance greener solutions. This also makes it easier to handle increased demand. Mass production will make the gas more affordable and accessible now and for the years to come. It can also keep climatic disasters at bay.