“Hydrogen power-to-gas has the potential to become an important and versatile energy storage medium, supporting integration of intermittent renewable generation across a wide range of time periods, from seconds all the way to seasonal storage,” said Forni. “However, economics are crucial, and generating hydrogen cheaply has been difficult to date.”
Currently, a hydrogen storage tank alone that would be large enough to support a facility’s needs costs around $5 million. However, some companies are trying to reduce these costs through new technology that utilizes on-demand power supply and artificial intelligence.
As alternatives like hydrogen storage will become more widely available and less expensive, a Navigant report predicts these factors and more will contribute to massive disruption across the entire energy value chain. Energy supply will move toward a multidirectional network of networks and away from the hub-and-spoke model. This will support a two-way energy flow that will give customers a more sustainable, highly digitized, and dynamic energy system.