In a GreenBiz article, Navigant Research discusses the causes and effects of the growing hydrogen economy
Once held back because of high costs and lack of infrastructure, the hydrogen economy is now gaining momentum as several factors come together to generate new interest and investment.
In a GreenBiz article, Adam Forni, principal research analyst at Navigant Research, highlighted three major factors that are contributing to the shift in the hydrogen economy: policymakers are supporting hydrogen to decarbonize the global economy, technology improvements are driving interest and lowering costs, and corporations are investing more in the hydrogen value chain.
He noted that a version of the hydrogen economy already exists and is taking place in industrial processes where most hydrogen is currently used, with two broadly categorized types of disruptive activity taking place. These include the decarbonization of existing grey hydrogen production and emerging hydrogen end uses including transportation, seasonal energy storage, and global energy trade.
“Against this backdrop of disruption, diverse new stakeholders are joining the hydrogen value chain, forming links between sectors such as transport, electricity, and industry,” Forni said.