1 / 2

The Long Road Ahead: Challenges Facing the Hydrogen Economy

Though the hydrogen economy has taken a while to emerge, hydrogen has long been hailed as the clean fuel of the future. Governments and businesses are now investing heavily in hydrogen, but the sector still faces a number of significant obstacles.<br><br>

Pratik34
Download Presentation

The Long Road Ahead: Challenges Facing the Hydrogen Economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HYDROGENBUSINESSCHALLENGES • ThePromiseandPerilofHydrogen • Thoughthehydrogeneconomy hastakenawhileto emerge, hydrogenhaslongbeenhailedastheclean fuelofthefuture. Governments andbusinessesarenow investing heavilyinhydrogen,butthesector • stillfacesanumberofsignificantobstacles. • DownloadPDF:https://www.marketsandmarkets.com/industry-practice/RequestForm.aspProductionHurdles • Themajorityofhydrogenproducedtodaycomesfromsteammethanereforming,whichisdonewith naturalgas.Althoughthisprocess negatesthebenefitofhydrogen asacleanfuel,itisless expensive thansplittinghydrogenfromwaterusingrenewableenergy.Itisstillcostlytoincreasetheproductionof greenhydrogen. • StorageDifficulties • Sincehydrogenisthelightestelement,storingitcanbechallenging.Asignificantamountofenergyis neededto compress orliquefyhydrogen.Large-scalelong-term storage ofitstillpresents alogistical challenge. • DistributionRoadblocks • Transporting hydrogen fromproductionfacilitiestoendusersrequires verylittleinfrastructure.The constructionoftrucksandpipelinestohandlehydrogenwillcostenormoussumsofmoney. • RegulatoryUncertainty • Differentregionshavedifferenthydrogencodes,standards,andlaws.Inordertopromoteinvestment andgivebusinesscertainty,clearerpolicyframeworksarerequired. • ConsumerHesitation • BecauseofitsassociationwiththeHindenburgdisaster,thepublicmaybewaryof hydrogen.Persuading peoplethatitissafeisnecessaryforacceptance. • Inordertofullyrealizehydrogen'spotential,companiesthathaveplacedsignificantbetsonthegas's role intheenergy transitionmustovercome these obstacles. Strongregulations, public-private • collaborations,andadditionaltechnologicaladvancementscanutilizethisplentifulcomponentinthe constructionofthecleaneconomy. • Herearesomekeybusinesschallengesfacingthehydrogenindustry: • Highproductioncosts:Atthemoment,naturalgasisusedtoproducethemajorityofhydrogen sinceitislessexpensivethansplittingwaterwithrenewable electricity.However,thisprocedure negatesthebenefitofcleanhydrogen.Itisstillcostlytoincreasetheproductionofgreen hydrogen. • Lackofinfrastructure:Hydrogendistribution andtransportation haveverylittleinfrastructure.It willcostalotofmoneytobuildtrucks,storagefacilities,pipelines,andrefuelingstations.

  2. Unclearregulations:Regionalvariationsandongoingdevelopmentcanbe seeninthe codes, standards,andlawspertainingtotheuse,storage,andtransportationofhydrogen.Toensure businesscertainty,morepolicysupportisrequired. • Safetyconcerns:Theperceptionofhydrogenashazardousisenduringbecauseofeventssuch as the Hindenburg catastrophe.Consumerconfidencerequireslarge-scalesafepractice • demonstrationand publiceducation. • Competing priorities: Governmentsthatsupporthydrogen andelectrificationatthesame time sendconflictingmessagesaboutpolicy.Forindustryto receivecleardemandsignals,amore cohesiveapproachisneeded. • Competitionwithfossilfuels:Ashydrogen grows,itneedstobecomeasaffordable as • established,butdirtier,fossilfuelincumbentslikenaturalgas.Fairnesswouldbeimprovedwith acarbonprice. • Overcoming theseinterlinkedchallengesrequiresstrong policyframeworks, public-privatepartnerships, research anddevelopment, andpublicengagement torealize hydrogen'spotential as a versatileclean • energycarrier. • ReadMore:https://www.marketsandmarkets.com/industry-practice/hydrogen/business-challenges

More Related