Lagos — The World Energy Council released the Innovation Insights Brief on the potential of hydrogen as the fuel of choice.
The Brief contains exclusive information based on a series of thought leadership interviews with key global leaders from across the energy sector.
Although hydrogen has experienced cycles of hype, this brief highlights why this time around hydrogen is here to stay.
Falling renewable energy and fuel cell prices, stringent climate change requirements and the discrete involvement of China are step changes that are part of this renewed potential. Still, the success of hydrogen depends on key factors identified by the interviewees.
Dr. Christoph Frei, Secretary General of the Council said: “For successful energy transition, we will need bold action with the hydrogen economy at center stage. To enable cost-effective pathways, the new hydrogen economy must look at incremental supply chain greening opportunities for existing hydrogen liquids and products.”
The Insights Brief also provides the reader with an overview of the current state of play for hydrogen as a part of energy transition and showcases emerging opportunities in four sectors: mobility, power, heat, and industry. Central to the interviews was the fact that clear and long-term energy policies, along with cross-sector cooperation are necessary for the deployment of hydrogen.
Dr. Angela Wilkinson, Senior Director, Scenarios and Business Insights at the World Energy Council said: “Green and blue hydrogen can refresh those parts of the energy system transition that electrification cannot reach.”