Researchers at Berkeley find an affordable metal compound for producing hydrogen from water.
In an update from October 2024, the global push for green hydrogen continues to gather momentum. By 2030, the investment required for hydrogen infrastructure is estimated at a staggering $300 billion, with the aim to meet a low-emission hydrogen production of 38 metric tons, catering to the increasing demand.
Currently, green hydrogen production methods are more expensive than fossil fuel alternatives, with costs ranging from $3 to $6.55 per kilogram compared to $1.80 per kilogram for grey hydrogen produced from natural gas. However, experts project that these costs could fall 40-80% by 2030 as technology improves and production scales up.
One of the key advancements in green hydrogen production is the development of Solid Oxide Electrolyzer Cells (SOEC), which offer high efficiency and can utilize industrial waste heat to reduce energy consumption. Artificial intelligence (AI) is increasingly integrated to optimize hydrogen production, monitor systems in real-time, and manage storage and transportation routes efficiently.
Challenges remain, particularly in the high production costs driven by expensive electrolyzers, the need for abundant and purified water, and competition from cheaper fossil-fuel-based hydrogen variants. Water scarcity in arid regions also complicates the feasibility of green hydrogen projects due to their high water usage. Additionally, infrastructure for hydrogen transport and storage is still developing, posing economic and logistical hurdles.
Despite these challenges, the role of green hydrogen in decarbonization is significant. It emits only water when used, aligning well with global net-zero and ESG (Environmental, Social, and Governance) targets across industries and governments. Green hydrogen is expected to become a cornerstone of sustainable energy strategies, supported by increasing government policies, subsidies, tax credits, and international trade partnerships that are unlocking investment and scaling infrastructure worldwide.
The green hydrogen market is projected to grow explosively, with estimates reaching nearly USD 135 billion by 2030 and over USD 199 billion by 2034. This growth is propelled by technology improvements, increasing renewable energy availability, policy support, and AI integration that collectively enhance efficiency and reduce costs.
Hydrogen-powered cars, such as Toyota Mirai, Hyundai Nexo, and BMW iX5 Hydrogen, are available or in development, with most vehicles concentrated in California due to the presence of hydrogen refueling infrastructure. The low-carbon hydrogen market is projected to reach a valuation of US$130 billion by 2033.
However, significant investment is needed for hydrogen storage facilities, with an estimated $637 billion required by 2050 to meet projected demand. Green hydrogen, produced using renewable energy sources, offers advantages as a clean fuel alternative, including zero emissions, versatility, energy storage capabilities, and decarbonization potential.
In conclusion, the advancements in green hydrogen production, storage, and distribution systems position it as a key enabler for a sustainable future. By providing a clean energy carrier to decarbonize hard-to-abate sectors such as heavy industry, shipping, and long-term energy storage, green hydrogen can help achieve net-zero carbon goals and sustainable energy systems.
[1] Green Hydrogen Market Size, Share & Trends Analysis Report By Type (Green Hydrogen, Blue Hydrogen, Grey Hydrogen), By End-use (Mobility, Power Generation, Industrial, Others), By Region, And Segment Forecasts, 2022 - 2030
[2] The Future of Green Hydrogen: Opportunities and Challenges
[3] Green Hydrogen: A Key to the Energy Transition
[4] Hydrogen Fuel Cell Technology Market Size, Share & Trends Analysis Report By Component (Fuel Cell Stack, Balance of Plant, Hydrogen Storage, Others), By Application (Mobility, Power Generation, Industrial, Others), By Region, And Segment Forecasts, 2022 - 2030
- As technology advances, such as Solid Oxide Electrolyzer Cells (SOEC) and artificial intelligence (AI), green hydrogen production costs are projected to decrease by 40-80% by 2030, making it a viable alternative to fossil fuel-based hydrogen.
- The global net-zero and ESG (Environmental, Social, and Governance) targets across industries and governments emphasize the significant role of green hydrogen in decarbonization, emitting only water when used.
- The demand for green hydrogen is growing exponentially, with the green hydrogen market expected to reach nearly USD 135 billion by 2030 and over USD 199 billion by 2034, driven by technology improvements, increasing renewable energy availability, and AI integration.
