Who and why focuses on hydrogen as a panacea for the pandemic crisis

Who and why focuses on hydrogen as a panacea for the pandemic crisis

For the moment, BloombergNef highlighted, 54 billion dollars of economic stimuli for the hydrogen sector have been approved worldwide, with Europe at the forefront

Hydrogen could prove to be one of the tools to which the world could entrust post-pandemic reconstruction, while producing energy without CO2 emissions and jobs. Its use is mainly intended for transport and for the storage of renewable energy but the costs are currently so high that it needs government support to take off.

FOR HOUR 54 MLD OF ECONOMIC STIMULES IN THE WORLD (BNEF)

For the time being, BloombergNef pointed out, 54 billion dollars of economic stimuli have been approved worldwide for the sector, with Europe at the forefront. A quantity of money second only to that of the electrification of transport.

THINGS CHANGE IN THE EU AND US

But things are about to change very quickly: in the last month alone, in fact, the European Union has given the green light to the strategy on hydrogen by putting on the plate 500 billion euros and precise objectives to obtain hydrogen from renewables.

In the United States, Air Products & Chemicals has announced plans to build what it says will be the largest hydrogen plant in the world powered by renewable energy in Saudi Arabia.

While the U.S. Department of Energy has announced funding of $ 64 million for hydrogen projects, it plans to invest up to $ 100 million in five years for two new research activities in the sector.

BIROL AMAZED BY RAPIDITY

A community of intent that also amazed the executive director of the International Energy Agency (IEA) Fatih Birol: “I have rarely, if ever, seen a technology that enjoys so much political support around the world. Countries that have completely different views on energy and climate come together to say that hydrogen is a key technology for clean energy. "

THE PROCESSING COSTS

At this time, the biggest obstacle for hydrogen is the cost of converting light and odorless gas into usable formats. "In my opinion, hydrogen is now where solar was 10 years ago," Birol said that costs are expected to decrease as governments develop supportive policies as done with solar.

Hydrogen produced from natural gas is already in use for industrial processes and for the few cars powered by this source, despite the 'electric' having won the challenge of mobility at least for now. But the real challenge now is to create 'green' hydrogen, therefore with the help of renewables and with emission capture methods, at affordable costs.

FROM BIDEN TO ARAMCO ALL ENGAGED IN HYDROGEN

In any case, everyone from Joe Biden , Democrat presidential candidate, to Saudi Aramco, the world's largest oil company, is apparently busy with hydrogen. Biden's climate and energy plan, recently expanded, supports the use of renewable energy to produce "carbonless hydrogen" at the same cost as natural gas.

The Hydrogen Council, a consortium launched at the World Economic Forum 2017 in Davos, Switzerland, started with 13 members and now has more than 80 members. Among these are Saudi Aramco and a group of companies in the auto, oil and gas sector.

THE SIERRA CLUB HAS NOT YET AN OFFICIAL POSITION

The Sierra Club does not yet have an official position on hydrogen, its director of global climate policy, John Coequyt, says the group will likely only support hydrogen produced exclusively with renewable energy and not with the capture of Co2.

"People don't understand hydrogen, not to mention the colors we are using to describe it," said Coequyt citing a power plant in Utah as an example of a hydrogen project that will be running mainly on natural gas for many years, if not decades before it can theoretically be transformed into renewable energy hydrogen., Axios reports.

FOR NOW MANY JOBS ARE NOT PROVIDED

Not even hydrogen will create jobs immediately, according to Esben Hegnsholt, global energy transition team leader of the Boston Consulting Group. This is a longer-term economic strategy, which is generally good, but not particularly useful today with the jobs lost in the pandemic: "Whoever gets the right hydrogen will be able to gain a long-term competitive advantage. at the state or national level, but it won't immediately create millions of jobs, "said Hegnsholt. "There will be jobs created in this decade, but we are counting the years, not the months."


This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/chi-e-perche-punta-sullidrogeno-come-panacea-della-crisi-da-pandemia/ on Sun, 02 Aug 2020 04:50:55 +0000.