H2 Economy: Hype, Horizon, or Here?
- Aug 22, 2020 2:36 pm GMT
Clean-burning hydrogen (H2)—and scenarios for a future economy powered by it—is big news at the moment. This is no surprise, given the current environment of low demand for oil, growing unease over greenhouse gas emissions, and projections that post-pandemic stimulus measures could do for hydrogen what stimulus measures after the 2008 financial crisis did for solar power. Oil and gas majors have spent tens of millions of dollars on pilot projects, as have other industrial giants. Germany, which has allocated $10 billion to its nascent hydrogen industry, is one of a growing number of governments whose spending to satisfy climate commitments while restarting their economies could provide a major funding kickstart.
But for the moment, most analysts agree that the future for a hydrogen economy is still uncertain and that the biggest obstacles to scaling will be costs, technology scaleup, and policy.
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