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Hydrogen struggles to meet great green expectations Summary: The green hydrogen industry is facing a paradox of high hopes yet slow momentum. Western Australia and other global players are looking to tap into abundant solar and wind energy to produce hydrogen-based fuels, a cleaner alternative to fossil fuels. Investments are substantial, with more than 1,000 projects requiring $320 billion announced worldwide. Singapore aims to make hydrogen at least half of its fuel mix by 2050 to achieve net-zero emissions. However, the pace of development is slower than expected. Currently, most hydrogen still comes from fossil fuels, not renewables. Despite the pressing need to reduce carbon emissions urgently, only a fraction of announced projects, totaling $29 billion, have been financially greenlit. Several factors contribute to this slow pace. First, the industry is relatively new and faces challenges in rapidly scaling up. Second, there is a need for extensive infrastructure, from pipelines to port handling equipment. Third, investors require security of long-term demand before committing significant capital. Lastly, costs for early projects are high, necessitating government support in the form of subsidies to bridge the financial gaps. Critics argue that the focus on green hydrogen could distract from more immediate solutions, like grid improvements and bulk renewables. Yet, industry players remain optimistic, pointing to the precedent set by wind and solar energy, which also faced similar challenges but now serve as affordable, mainstream energy sources. #GreenHydrogen #CleanEnergy #InvestmentChallenges #RenewableEnergy #SingaporeEnergyPolicy #NetZero #CarbonEmissions #EnergyTransition

GOVERNMENTS ARE ACTING 🚀   This is not simply wishful thinking. More than 30 governments across the world are considering commitments not simply to reduce emissions, but bring them to net zero. The UK and France have legally committed to do so by 2050, with Sweden by 2045, while Australia and China have developed policy documents for reaching the target. And governments have acknowledged hydrogen will have a key role to play, not only as fuel with specific end uses, but also as means of moving energy. 🌍 The world’s major energy consumers, in other words, is fully committed to shifting towards hydrogen as the means to tap into renewable energy. Corporates are following🔄 Government investment will certainly not be enough on its own, but this stimulates private investment, which will in turn drive technological breakthroughs. Government backing will also mean that green hydrogen projects are built at previously unprecedented sizes, generating economies of scale and helping to push down the price of the clean fuel. This is exactly what we witnessed in the renewable energy sector in recent decades, as investments in technology and operating at scale gradually pushed down the cost of generating electricity from solar and wind to a point where both are competitive with fossil fuels and often, in areas of abundant sunshine or wind, far cheaper. 🌳 The path is clear and governments and companies are already taking strides down it. The hurdles will be cleared, just as they have been for renewable energy over past decades.   For your curiosities and much more; www.fuzyonh2.com   #fuzyonhydrogen #hydrogenenergy #energy #renewableenergy #government #greenhydrogen #cleanfuel 

While it is still easy to criticize the continued Chinese commitment to #coal plants what many are missing is their incredible investment in #renewableenergy and its supply chain - which has now become a major driver of economic growth. And crucially for the fight against #climatechange this world beating surge in renewables is pulling forward by years their peak emissions. Good news by any measure. #climatecrisis #energytransition #stopburningstuff #solarpower #windpower #batterystorage

Europe’s carbon market is off to a rough start this year, with the worst performance since 2016. The rapid expansion of renewables has resulted in lower demand for fossil fuels, causing a drop in the price of carbon permits. However, the good news is that consumers are turning to solar panels as an alternative, with a record-breaking 51 gigawatts of installations in 2021, up 87% from the previous year, according to BloombergNEF. This is a significant step towards reducing pollution and limiting exposure to high power prices. Lower carbon prices could also ease the burden on European politicians and provide companies with an opportunity to decarbonize or purchase permits more affordably. #renewableenergy #carbonmarket #sustainability

Japan aims to achieve carbon neutrality by 2050. However, renewable energy is expensive due to the country's unique geography and reliance on offshore wind. This could impact vital sectors like steel production, which contributes to 10% of Japan's emissions. To achieve 'deep' #decarbonisation, Japan must shift to 'green' hydrogen produced using renewable energy. Discover more of our expert insights into these critical issues: https://ow.ly/cTmz50PGizc #RenewableEnergy #JapanEmissions

Fueling the Future (II/III): Can green hydrogen decarbonise the transport sector? The transport sector is one of the biggest carbon emitters worldwide. As the world tries to shift away from fossil fuels, green hydrogen is being touted as one key solution. Recently, many countries have adopted legislative proposals to decarbonise the transport sector by facilitating the uptake of green hydrogen. At Broadpeak, we collaborate with policy experts and investment advisors to understand the world’s most pressing issues. As we examine current trends to watch for, we asked energy experts, does green hydrogen have the potential to become the fuel of the future? What are the major obstacles to its scalability? And how can we develop the best use cases for this innovative alternative energy in the transport sector? This is the second article of our Green Hydrogen Trilogy. The first article on the role of green hydrogen in the energy transition can be found here. The Fuel of the Future? ...read to full article. https://buff.ly/3WMIdNd #hydrogen #decarbonise #transport #green #africa

It’s not all doom and gloom in the world of climate; here is some ✨ GOOD ✨ news. ↗ The world needs to triple our renewable energy manufacturing capacity by 2030 to make sure we are on track to achieve net zero by 2050. International Energy Agency (IEA) predicts that the supply of manufacturing capacity for renewables (US$790B pa) will now outstrip our demand for (USD $640B pa) in 2030! If it were only that simple… There are some key caveats:  1️⃣ This is contingent on governments implementing their announced climate pledges on time and in full i.e. all those cleantech projects in the pipeline (see image below) need to come to fruition 😬 2️⃣ You might have all the manufacturing capacity in the world but what if there are shortages of raw materials to make clean tech products? 3️⃣ We can’t just build manufacturing capacity, we need make sure they are efficiently utilised 4️⃣ Even if the net result is positive, some clean technologies will overdeliver (i.e. solar) while others will fail to reach the capacity we need Guess which country will own most of the manufacturing? No surprise that it is China 🇨🇳 , which is expected to capture ~65% of the market or (USD $500B) in 2030. #cleantech #climatetech #renewableenergy 📈 : Canary Media Inc.

WHAT WE VALUE - ENERGY PT 2 The Energy We Need: Challenges and Opportunities in the Global Transition This is part two of our #WhatWeValue series focusing on Energy. In part one, we discussed the ongoing global energy transition. Today, let's delve into the challenges and opportunities we face. Challenges: 1. Hydrogen Hype: While hydrogen is touted as an "emissionless" fuel, the reality is more complex. High production and infrastructure costs, coupled with limited proof of its superiority to alternatives, have led to project cancellations. 2. Energy Storage Hype: Similar to hydrogen, some proposed energy storage solutions like modular PSH and underground air/fluid compression lack strong technical validation and are not financially viable. Opportunities: 1. Ending Fossil Fuel Subsidies: The oil & gas industry receives a staggering $7 trillion annually in subsidies (7% of global GDP in 2022 - Source: IMF). Eliminating these subsidies would not only free up resources for the energy transition but also send a powerful message. Political leaders need to take action on promises made at #COP26 and redirect these funds towards accelerating the energy transition. 2. Cost Savings and Reduced Emissions: China, a global leader in renewable energy, has seen significant cost reductions due to their focus on renewables. This shift not only benefits the economy but also helps to meaningfully mitigate against the growing risks of runaway climate change. 3. Efficiency: As public awareness of climate change grows (with May marking the 12th consecutive month of record-breaking temperatures), people are demanding action. This public pressure will drive the shift towards a cleaner energy future. Additionally, focusing on energy efficiency through advancements like HVDC cables, electric vehicles and using electricity to power industrial processes will further reduce our reliance on polluting and inefficient primary energy sources, such as oil & gas. The takeaway? The transition to a clean energy future requires addressing challenges like unsustainable solutions and outdated subsidies. It also presents exciting opportunities for cost savings, reduced emissions, and a more efficient energy system. Public pressure will be a key driver for change. What are your thoughts on the opportunities and challenges in the global energy transition? #CleanEnergyTransition #RenewableEnergy #ClimateChangeSolutions #Sustainability #EnergySecurity #Innovation #FutureofEnergy #PublicPolicy #ClimateAction #WhatWeValue

Developing new offshore energy projects in the APAC region, especially in Japan, is still facing a lot of questions and challenges whether the country will meet the target that has been set. However, setting ambitious targets for the transition to a low-carbon future by 2030/2050 must be seen as a positive step. "While challenges in achieving these are inevitable, having concrete goals to work towards is essential in driving much-needed progress on the issue of decarbonization. While our experts acknowledged the industry may need to adjust its approach along the way, failure to reach these targets should not be viewed as a negative outcome. Rather, striving for these bold targets ensures that we continue to move in the right direction towards significant and meaningful progress in the fight against climate change and to create a cleaner, greener world for all." #offshore #renewable #lowcarbon #decarbonization

The energy transition clearly has a long way to go, but we do need to remind ourselves that progress is being made. Based on the International Energy Agency (IEA)’s ‘CO2 emissions 2023 report’ published last month, advanced economies saw a record decline of ~4.5% in their emissions - falling to their lowest levels in fifty years. This was despite global emissions rising by ~1.1%. A great example is in the US, where coal-to-gas switching was the largest driver behind emissions reduction in the electricity sector in 2023 (see graph below). This was due to coal generated electricity decreasing by ~20%, while gas generated electricity grew by ~6%. Importantly, renewables deployment also played a significant role in reducing US electricity sector emissions. When we consider the primary role of coal in many developing economies, gas combined with renewables has the potential to play a major role in reducing global emissions. That’s not to say it’s the only solution - the transition will need many. But, the all too polarised debate continues to seek winners (good) and losers (bad) irrespective of the role they can and are playing today. https://shorturl.at/gxKS3 #netzero #energytransition #decarbonisation