Green hydrogen is Hydron fuel produced via electrolysis. It uses renewable resources instead of fossil fuels. The global green hydrogen industry size was valued at $0.3 billion in 2020 and is expected to reach $9.8 billion by 2028, growing at a CAGR of 54.7%, according to figures released by Allied Market Research. Further, President Biden has promised to make far-reaching investments in clean energy technologies and rapidly commercialize them. This will ensure dramatic cost reduction in battery storage and next-generation building materials.
The green hydrogen market recovered dramatically in the third and fourth quarters of 2020 despite revenue hampers in the first two quarters.
This shows that the fuel has been widely recognized as a decarbonizing element. The top hydrogen production companies use the ‘hydrolysis’ method which does not produce CO2 emissions, according to GenH2. Have a look at the top application of this gas.
1. Future of Logistics
Transportation companies have embraced green hydrogen solutions. This is an attempt at reducing the carbon footprint which is great from a climate standpoint. It is simply because fuel cell electric vehicles ensure lower CO2 emissions. However, you must be careful since it can release high levels of nitrogen oxide when not used carefully.
The fuel is also cost-effective when compared to diesel. Otherwise, usage of traditional trucks to deliver to end-users remains the most expensive part of last-mile deliveries making it incredibly inefficient, according to an article by Forbes. Green hydrogen solutions can change this forever. The lifespan of a vehicle can be extended as well without fossil fuels.
2. Heating Commercial Spaces
The hydrogen is compressed and sent through pipes. The substance is burned in condensing boilers that are hydrogen ready. This is a simple and easy process to keep the building warm. It is especially helpful in states or countries where the natural gas price is high. All you have to do is make sure the pipelines are constructed in a way to bear the solution passage. Green hydrogen companies also produce fuels that can be combined with natural gas to reduce the emission of air pollutants.
3. Produces Electricity
The top hydrogen infrastructure companies produce high-quality fuel cells. These can create electricity by combining oxygen and hydrogen atoms along with water and heat, according to an article by the US Energy Information Administration. Consumers can no power anything from emergency outlets in buildings to military applications. There were about 161 active fuel cells at 108 facilities in America as of 2020. There is no carbon dioxide or carbon monoxide release from electricity production. Green fuel can also meet the needs of high-intensity heat in the aviation, shipping, and concrete manufacturing industries.
The green hydrogen industry is highly useful in oil refining, producing petroleum products, and acting as a protecting gas in float gas manufacturing. Nitrogen purification and energy storage applications are other ways to make the most of green hydrogen. Gas is already high in demand but the industry is in its infant stage. Therefore, make sure to work with the top production, storage, and distribution company to optimize the results.