- Energy experts explore the financial pathways that will put hydrogen on a profitable trajectory as markets focus on decarbonization
OVERLAND PARK, Kan.–The global energy industry is looking to green hydrogen, a carbonless fuel generated with renewable energy, as essential on the road to decarbonization and climate neutrality.
Given the scale of the investments needed to harness hydrogen’s potential – and the ambiguous costs associated with it – a new eBook from Black & Veatch provides clarity by examining market forces and financial considerations surrounding hydrogen technology.
Offered as a free download, 2021: Market Dynamics of Hydrogen navigates the financial pathways that will put hydrogen on a viable, profitable trajectory.
Hydrogen can complement – and even accelerate – the integration of renewable energy and electrification. It also can provide technologically and financially viable pathways as a zero-carbon fuel, feedstock and energy carrier while serving as a method of energy storage.
While electrification and advancing renewables can play a huge role in decarbonizing the energy sector and downstream users, hydrogen is needed to accelerate these changes and enable lower carbon footprints of energy-intensive applications and emission sources not reasonably abated through other means. Additionally, hydrogen can leverage existing fossil gas infrastructure in that it can be shipped, stored and used as fuel, all without major impacts to the existing value chain.
So with hydrogen boasting such clear advantages, why isn’t the energy industry implementing sweeping changes to adopt it as a solution? Simply put, it’s cost.
“Having yet to achieve meaningful scale or market applications in the industrial, transportation or power generation sectors, clean hydrogen is presently not cost competitive with other forms of fuel without additional incentives,” said Jason Rowell, associate vice president and Black & Veatch’s global decarbonization solutions director with Black & Veatch’s global power business. “As the world continues to deal with the growing impacts of climate change, there is a growing sense of urgency for the industry to understand the market dynamics behind hydrogen technology.”
2021: Market Dynamics of Hydrogen explores how the large-scale adoption of hydrogen will improve the economics of electrification, renewables and hydrogen-based solutions.
“There are multiple paths to our energy future is becoming clearer,” said Deepa Poduval, Black & Veatch’s Global Strategic Advisory practice lead. “Understanding the market dynamics behind hydrogen will help policy makers, energy producers and consumers alike take an active role in making hydrogen a viable low- to no-carbon energy solution in the future.
About Black & Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.