© H2Gro. All Rights Reserved 2022
Menu
© H2Gro. All Rights Reserved 2022
Sign up to join the renewables revolution today and receive exclusive investment opportunities.
One of the most common elements in our environment is hydrogen, an extremely versatile fuel source that can be used across a wide variety of applications. As countries across the globe set their sights on reaching net-zero emissions and reducing carbon footprints, it is no wonder that hydrogen is emerging as the fuel of the future.
Hydrogen fuel cell technology has advanced in leaps and bounds in the last few years. Today, these modern vehicles are the leading green alternative for personal and commercial transportation.
Hydrogen cars produce no emissions and provide current, high-tech, optimal-performance options at affordable prices. The transition from fossil fuel cars to hydrogen fuel cell vehicles is well and truly underway, with a comprehensive refuelling network currently being created right here in Australia.
They have a driving range of more than double that of electric cars.
Due to the size of electric batteries, they cannot be used in large vehicles and aircraft — hydrogen fuel cells are lighter and more compact, which makes decarbonising these industries possible for the first time.
The industry is growing rapidly and is expected to reach an evaluation of US$42,038 million by 2026, while it is projected that 100,000 hydrogen-powered vehicles will be in use in the United States by 2030.
Diesel is currently used widely in generators across construction sites, hospitals, and remote communities, increasing carbon emissions. However, scientific breakthroughs mean hydrogen is fast becoming the best solution, providing the capacity to deliver stable electricity to power future technology. In addition, hydrogen is the best green alternative fuel option to replace diesel because it is not heavy to transport and inexpensive to produce.
There is significant room for growth. Diesel currently powers 41% of transport and electricity generation in the Australian mining sector, which creates early-market opportunities for off-take deals.
Hydrogen has the support of the Australian Government as the leading option to replace diesel. The Australian Commonwealth’s National Hyrodgen Strategy outlines a pathway for it to be commercially competitive with diesel by 2025.
Constant technological advancement and high-level investment mean off-grid electricity systems can be turned into cutting-edge green hydrogen energy generators. As these capabilities are developed, hydrogen is positioning itself to replace other non-renewable electricity generation in the long term.
Countries all across the globe have made significant commitments to reduce emissions, and hydrogen will play a substantial part in this. In Australia, the transition from high emissions electricity to clean, renewable energy will rely on the adaptation of hydrogen generators and fuel cells.
It does not create any emissions — which even clean diesel does — making it the best option for green energy production.
It is the most effective and most accessible substitute for all traditional fuels.
It can be used to support or back up other renewable energy sources, such as solar and wind power — significantly accelerating the transition to clean power.
Other renewable energy sources are primarily dependent on weather cycles, leading to potential gaps in electricity and unpredictability, making these sources unreliable. Due to this, one of the significant applications of hydrogen electricity is stabilising and supporting other renewable energy sources to ensure continued energy coverage.
KPMG estimates that the adaptation of hydrogen power will significantly reduce the cost of electricity by 2050, reaching AU$27 per MWh in many locations.
Hydrogen generators are highly competitive with the cost of operating both diesel-solar or solar-battery hybrid systems.
Hydrogen can be produced year-round, unaffected by seasons or the elements, making it the perfect backup for other renewable energy sources.
© H2Gro. All Rights Reserved 2022
© H2Gro. All Rights Reserved 2022