Transitioning to clean energy demands significant change, with global hydrogen demand needing to reach 140 MT by 2030 and 660 MT by 2050, up from 90 MT in 20201. Understanding the scale and complexity of this transition remains a challenge despite recognizing its necessity.
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The movement of people and goods throughout society has always depended on more than one technology. Different individuals, businesses, geographies and segments of the transportation system have different needs and no single solution can meet all of them alone.
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Hydrogen’s pivotal role in industry decarbonization and achieving climate goals, supported by political backing and over 350 global projects, highlights unprecedented momentum, yet significant challenges persist in securing market and financing for mass-scale implementation.
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In a remarkable shift, “net zero” has evolved from a buzzword to a concrete goal, with major economies representing 80% of global GDP now committed to decarbonization, driving significant investments in clean energy, particularly hydrogen-based solutions.
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The hydrogen industry’s rapid expansion, with over 200 large-scale projects announced by early 2021, exceeding $300 billion in value, signals a significant shift across various sectors, previously led by a few key players, now encompassing a diverse range of businesses and applications.
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Hydrogen deployment globally is accelerating, evident by over 30 countries releasing hydrogen roadmaps and over 200 large-scale projects announced along the value chain as of early 2021.
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Hydrogen came into 2020 vision last year. More announcements, investments, policy commitments, and communication volume. As we enter a new year, there is a need to further focus the enthusiasm on meaningful next steps on the long road to overhauling our energy systems.
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In 1874, Jules Verne, a science fiction writer, envisioned hydrogen as a future power source. Almost 150 years later, amid a global pandemic and unprecedented natural disasters, the world appears poised to embrace hydrogen’s potential as an energy source for the future.
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Benoît Potier (Air Liquide CEO) and Takeshi Uchiyamada (Toyota Motor Corp. Chairman) argue in a World Economic Forum opinion piece that placing hydrogen at the center of post-COVID investments can kickstart the hydrogen era and hasten the clean energy transition.
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The coronavirus outbreak caused a significant decline in global carbon emissions, mainly from a 17% drop during lockdown, with road transport emissions decreasing by 43%, prompting questions about returning to pre-pandemic norms and highlighting the need to invest in scalable clean transport solutions for lasting change.
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