The potential for green hydrogen is staggering. By 2050, green hydrogen is predicted to be worth $300 billion annually and create 400,000 jobs.
Green hydrogen has always struck me as one of the most difficult clean energy technologies to deploy in the transition away from fossil fuels. The creation of hydrogen molecules through electrolysis, and finding a way to transport this newly created product, struck me as incredibly difficult. Fortunately, the varied uses forinclude its potential to reduce emissions in industries that are historically difficult to decarbonize sectors.
While the creation of hydrogen is not new, it is important to differentiate between the different types of hydrogen and what makes green hydrogen environmentally superior. Hydrogen production is divided into categories which include gray hydrogen, blue hydrogen, and green hydrogen. Both blue and gray hydrogen rely on fossil fuels, while green hydrogen uses only renewable energy to generate the vast amount of electricity required for the process of electrolysis.
As of right now, many of the largest plants that are either operational or under construction are scattered around the globe. These include a $70 billion project in Australia, a $40-50 billion project in Kazakhstan, and a $10 billion project in Oman. The region with the highest estimated potential energy capacity through green hydrogen is Sub-Saharan Africa, followed by the Middle East and North Africa.
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