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| Tue, 4th Aug 2020 13:18:00 |
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Energy Giants Race For 'Green Hydrogen' Market Share |
While hydrogen has long been touted as a virtually inexhaustible source of clean energy, with zero carbon emissions since this first element on the periodic table burns clean, leaving behind only water vapor. This makes hydrogen highly marketable as a promising fuel source option for a decarbonized economy of the future.
Not all hydrogen is created equal, however.
The standard hydrogen used in these production processes, however, is not as “green” as you may think. It’s created through the use of fossil fuels, primarily coal and natural gas. This form of hydrogen is known as “grey hydrogen,” and is essentially useless in terms of reducing greenhouse gas emissions.
Green hydrogen, which is produced using renewable energy, is also currently in production, but it is still extremely cost prohibitive compared to gray hydrogen. But plenty of renewable energy projects have been trying to make green hydrogen competitive for years, and the sector got a major bump earlier this year as oil supermajor Royal Dutch Shell got involved in the initiative with an offshore wind farm. The green hydrogen revolution is upon us. And now it's found itself at the center of the raging debate about the future of energy.
While supermajor oil companies like Shell, BP and Equinor have dominated the hydrogen sector in terms of gigawatt scale, utilities are giving them a run for their money, particularly in Europe, the U.S., and Canada.
Read original full article
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