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Green Hydrogen: Energizing the Path to Net Zero

Green Hydrogen: Energizing the Path to Net Zero

Full Title: Green hydrogen: Energizing the Path to Net Zero
Author(s): Johannes Truby, Pradeep Philip, and Bernhard Lorentz
Publisher(s): Deloitte
Publication Date: June 19, 2023
Full Text: Download Resource
Description (excerpt):

Clean hydrogen is now clearly recognized as a potential breakthrough technology to overcome these limits. Hydrogen is a versatile molecule, which can be used directly via fuel cells or for electricity generation, and as feedstock to produce more suitable derivatives—such as ammonia, methanol, or sustainable aviation fuels (SAF)—to specific industrial and transport applications.

Deloitte’s outlook, leveraging a data-driven and model-based quantitative analysis, explores the emergence of a carbon-neutral, inclusive clean hydrogen economy in the coming years. This outlook relies on Deloitte’s Hydrogen Pathway Explorer (HyPE) model and proposes a vision for a fast-tracked development of the clean hydrogen economy, highlighting the associated challenges and bottlenecks. It showcases a steady market growth, from US$642 billion in annual revenue in 2030 to US$1.4 trillion per year in 2050, a recognized milestone to reach climate neutrality.

Decisive policy support can help to scale up the clean hydrogen economy and ensure that, especially, green hydrogen plays its needed role on the path to climate neutrality. To date, more than 140 countries (collectively responsible for 88% of global CO2 emissions) have adopted net-zero targets. However, clean hydrogen projects announced worldwide would provide a collective production capacity of only 44 MtH2eq by 2030, one-quarter of this demand scenario. Targeted policy support for clean hydrogen may be crucial to help ensure that early projects, such as pilot and head of series, can compete on a level playing field, enter the market, and trigger economies of scale.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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