By Andy Marsh, as published by Forbes Technology Council<\/p>\n\n\n\n
The future looks promising for green hydrogen in global markets.\u00a0One<\/a>\u00a0after\u00a0another<\/a>, market analysts have come around to the molecule\u2019s potential to drive the transition to a low-carbon economy. Their reasoning? As both a\u00a0clean-burning fuel and an energy carrier<\/a>, hydrogen could help solve daunting decarbonization challenges while revitalizing local economies. For example, instead of going unused by electricity grids, surplus renewable energy can be\u00a0directed toward<\/a>\u00a0hydrogen production and stored for later use in hard-to-abate sectors like long-haul transport. This versatility is one of the reasons a new report from Bank of America\u00a0projects<\/a>\u00a0that hydrogen could meet nearly one-quarter of our energy needs by 2050 and reduce carbon emissions by one-third.\u00a0<\/p>\n\n\n\n However, these new adherents\u00a0also note<\/a>\u00a0that hurdles remain, particularly around the\u00a0availability of clean energy<\/a>\u00a0and the cost of renewably-powered\u00a0electrolysis<\/a>, the potentially emissions-free process used to produce green hydrogen. As the president and CEO of a company that offers clean hydrogen<\/a> and zero-emission fuel cell solutions<\/a>, I believe tackling these challenges will require continuing public support in the form of incentives, jackpot party casino reviews tax breaks and enabling regulations. Are governments up to the task?<\/p>\n\n\n\n Increasingly, policymakers are saying yes. In recent months, global markets have rushed to establish strategies for building national green hydrogen value chains. But approaches vary significantly according to domestic ambitions and restraints.\u00a0South Korea<\/a>, for example, is hoping green hydrogen can help wean the country off fossil fuels. Elsewhere, commodity-focused economies like\u00a0Australia\u2019s<\/a>\u00a0and\u00a0Chile\u2019s<\/a>\u00a0are aiming to diversify exports. The EU has emerged with perhaps the most far-reaching plan;\u00a0according to Reuters<\/a>, Europe could cumulatively invest over $569 billion into green hydrogen by 2050 and create at least 40 gigawatts of electrolyzer capacity between 2025 and 2030. Taken together, these roadmaps suggest to me that we\u2019re at the cusp of a thriving global hydrogen economy.\u00a0<\/p>\n\n\n\n As these plans move toward implementation, how can policymakers best position their economies to benefit from green hydrogen? Furthermore, how can the hydrogen industry and other business leaders support these ambitious goals?<\/p>\n\n\n\n Putting Hydrogen On Proper Footing<\/strong><\/p>\n\n\n\n Talk of multibillion-dollar investments and new policy initiatives is generating buzz in the industry<\/a>, but government support to the energy sector often remains skewed toward oil and gas. A recent study by BloombergNEF estimates<\/a> $150 billion in subsidies are needed through 2030 in order to scale up hydrogen use and create a supply infrastructure. This is undoubtedly a significant sum, but far less than the $584 billion that G20 governments <\/a>directed toward fossil fuel industries from 2017 to 2020. It\u2019s time to level the playing field. <\/p>\n\n\n\n Making renewables economically viable in domestic markets is a critical first step. Even among clean energy sources, government support has long favored wind and solar power. In Europe, for instance, feed-in tariffs<\/a> reportedly helped push the share of renewable jackpot party casino game sources in electricity grids past the tipping point. I believe green hydrogen certainly merits similar subsidies. On a broader scale, carbon pricing could support the business case<\/a> for switching to clean energy.<\/p>\n\n\n\n Providing Policy Certainty<\/strong><\/p>\n\n\n\n Ultimately, building the clean hydrogen ecosystem will require greater industry investment. But policymakers can facilitate this process by streamlining regulatory procedures and aligning safety and quality standards. The Hydrogen Energy Ministerial Meeting identified such harmonization<\/a> as a pillar of its global action agenda in 2019.<\/p>\n\n\n\n However, it remains to be seen how resilient these plans are to political turnover. Business leaders in the sector should be vocal in their continuing support, as unpredictable policy trajectories could hamper private sector development. Lawmakers can instill long-term market confidence by setting dependable, technology-neutral policy objectives around decarbonization \u2014 what the recent Road Map to a U.S. Hydrogen Economy<\/a> terms \u201csetting the north star.\u201d <\/p>\n\n\n\n Finally, national goals should not hinder international cooperation. In my experience, few countries can develop an entirely self-contained hydrogen supply chain due to varying domestic resources and market dynamics. Partnerships around renewable energy supply and research could be critical to realizing comparative advantages while meeting local needs. Some countries have smartly made provisions<\/a> for building clean energy and hydrogen capacity in nearby countries, recognizing that production within the region is insufficient to meet potential future demand. <\/p>\n\n\n\n Private Sector Priorities<\/strong><\/p>\n\n\n\n While governments must create the conditions for a green hydrogen economy to grow, the private sector should not take a wait-and-see approach. Businesses have a role in shaping dialogue and taking steps to align commercial strategies with national frameworks. Here\u2019s how business leaders can play their part: <\/p>\n\n\n\n Band Together<\/em><\/p>\n\n\n\n Today\u2019s hydrogen roadmaps are tomorrow\u2019s regulations. Few companies can singularly influence policymaking, but there\u2019s power in coming together. Those hoping to join the hydrogen revolution should consider participating in working groups and industry initiatives. Such groups include Hydrogen Europe, whose 185 industry members collaborate in technical committees and issue-specific task forces. In the U.S., the Fuel Cell and Hydrogen Energy Association coordinates policy advocacy as well as collaborations with government agencies such as the U.S. Department of Energy\u2019s Fuel Cell Technologies Office.<\/p>\n\n\n\n Leverage Existing Assets And Expertise<\/em><\/p>\n\n\n\n Moving into green energy does not have to mean starting from scratch. Companies with experience managing massive time- and capital-intensive projects, for example, could find those skills in high demand in the hydrogen space. Oil and gas majors can partner on electrolyzer projects and explore how to convert natural gas pipelines to hydrogen. For their part, financial institutions can make good on their sustainable lending\u00a0promises<\/a>\u00a0\u2014 and pacify\u00a0investors like HSBC’s<\/a>, who asked the bank to cut fossil fuel support \u2014 by lending to green hydrogen projects.<\/p>\n\n\n\n Planting The Seeds Of A Greener Economy<\/strong><\/p>\n\n\n\n I believe realizing green hydrogen\u2019s ability to boost economic growth and fight climate change requires a systemic, collaborative and internationally-coordinated approach. While global markets can and should chart their own courses, green hydrogen is not a zero-sum game. A conducive policy environment, alongside a business focus on sustainable value creation, could ensure that green hydrogen\u2019s win-win potential becomes a reality.<\/p>\n","protected":false},"excerpt":{"rendered":" By Andy Marsh, as published by Forbes Technology Council The future looks promising for green hydrogen in global markets.\u00a0One\u00a0after\u00a0another, market analysts have come around to the molecule\u2019s potential to drive the transition to a low-carbon economy. Their reasoning? As both a\u00a0clean-burning fuel and an energy carrier, hydrogen could help solve daunting decarbonization challenges while revitalizing ...<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"closed"jackpot party casino slots ,"ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[2],"tags":[],"yst_prominent_words":[2877,194,647,1339,2880,334,2883,218,210,2884,2882,342,2020,219,995,822,2879,2878,1912,1386],"class_list":["post-7557","post","type-post","status-publish","format-standard","hentry","category-blog"],"acf":[],"aioseo_notices":[],"yoast_head":"\n