L R AS Published on Sunday 5 April 2020 - n° 316 - Categories:hydrogen
What would be the cost of switching to all-hydrogen?
BloombergNEF conducted a study on the feasibility of using green hydrogen. Its conclusion is that the cost of switching to hydrogen is
This is a huge challenge and requires political will to move away from fossil fuels. Achieving 34% energy demand with green hydrogen would require 31,320 TWh of electricity, which is more than all the current energy production from different sources, says BloombergNEF.
As electricity requirements for consumption must be added, "total renewable energy production excluding electricity must exceed 60,000 TWh, compared with less than 3,000 TWh today," he estimates.
Investment needs in infrastructure would reach $637 billion until 2050. To stimulate demand, this will require $150 billion in cumulative subsidies by 2030.
https://www.pv-magazine.com/2020/03/31/policy-policy-policy-bloombergnefs-path-to-hydrogen-uptake/
https://about.newenergyfinance.com/blog/hydrogen-economy-offers-promising-path-to-decarbonization/
PV Magazine of 31 March
Editor's note This means that hydrogen will not dethrone electricity or hydrocarbons in the short term.
