Hydrogen has a broad range of applications and can be produced in a number of ways.
World Energy Council says "environmental and political drivers" are "sending encouraging signals to the market."
In an announcement accompanying a briefing, the London-based energy organization said "environmental and political drivers" were "sending encouraging signals to the market and prompting growing interest." Globally, many pilot projects were being developed, built or in operation, it added. The U.S. Department of Energy recently launched its Energy Earthshots Initiative and said the first of these would focus on cutting the cost of "clean" hydrogen to $1 per kilogram in a decade. According to the DOE, hydrogen from renewables is priced at around $5 a kilogram today.
The sector does seem to be at a crossroads, with a number of issues to resolve as it looks to expand. The WEC's report claimed the hydrogen economy was facing a "chicken and egg problem" related to supply and demand. Both of these, it argued, lacked "secure volumes from the other to help establish the value chain."
The debate about color required clarity, "as it could risk prematurely excluding some technological routes that could be more cost and carbon effective," it said.While discussions about the future of hydrogen take place, a number of firms are beginning to make plays in the sector.Siemens Gamesa Renewable Energy
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