The growing advocacy for sustainable and clean energy sources is driving the search for fossil fuel alternatives. Hydrogen is already identified as a potential replacement. There are indications that, indeed, it might be the best alternative. Green H2 produced from renewable energy sources will by 2050 account for a significant amount of Europe’s energy demand. More precisely, it will account for 20% of all energy consumed in Europe and 10% globally.
Green hydrogen is the center of attention for many reasons. First, it is clean, sustainable and comes from the universe’s most abundant element. Secondly, it can be generated from various means one of them being through the splitting of water molecules using a current of renewable electricity. Undoubtedly, the hydrogen gas that is produced from this process is touted as a clean energy source to replace fossil fuels.
Europe is one of the world’s continents registering a rapid increase in energy demand. It is projected that by 2050, Europe’s power demand will increase by a whopping 5,000 TWh (Terawatt hours). Interestingly, the production of green H2 will account for approximately 1,000 TWh, a tremendous rise from the current demand of about 30TWh. These estimations are according to Statkraft’s sixth annual Low Emissions Scenario report that was released recently.
Statkraft is one of the leading producers of renewable energy in Europe. As part of its plans for the future, the company routinely carries out analyses of low emissions. It then uses the reports as the basis for its investments and plans for future carbon-free energy. With its many gas stations in Germany and other places, the company is expected to play a major role in the production and sale of green H2.
Presently, the production of green H2 is more expensive than the production of energy from fossil fuel sources. That is, however, likely to change given the number of investments going into the development of technologies and innovations that will lower the cost of green H2 production.
Already, there are many plans outlined in the 2021 U.N. Climate Summit (COP 26) in Glasgow, Scotland where over 200 representatives from different countries seek to tackle the climate change/global warming problem.
Presently, many projects underway in Europe will no doubt shape the future of hydrogen as a source of energy. Indeed, many Europe-based energy companies will play a big role in meeting the increasing demand for clean energy.
Green H2 is the energy source to watch by 2050!
