Hydrogen Council proposes next steps to hydrogen society at annual meeting

Three key steps to accelerate the transition to a global hydrogen society have been outlined at the Hydrogen Council’s third annual chief executives meeting in Paris.

In an address delivered by Hyundai Motor Group executive vice chairman and Hydrogen Council co-chair Euisun Chung, three key areas were recommended for change to push forward the future of hydrogen, including cost reduction, developing safety standards and promoting hydrogen as a reliable energy source.

The first step, as pointed out by Chung, was to invest in technology to reduce the costs associated with all aspects related hydrogen.

“To fully tap hydrogen’s potential as the ultimate alternative to fossil fuel, new creative ways of lowering cost in a shorter time span must be sought across the entire value chain – including production, storage, distribution and application,” said Chung.

According to a report released by the Hydrogen Council titled Path to Hydrogen Competitiveness: A Cost Perspective, the cost of hydrogen is expected to fall by up to 50 percent in the next 10 years across a range of applications including long-distance and heavy-duty transformation and industrial heating. The report suggests that this drop in cost will be due to the falling cost of renewable electricity generation, scaling up manufacturing and the growing utilization of distribution infrastructure.

The second step was to collaboratively establish a comprehensive safety management system to ensure the safety of workers throughout the value chain, while the final step included continuing to promote the benefits of hydrogen as a clean, attainable energy system to the public.

Chung also said that the findings of the Path to Hydrogen Competitiveness: A cost Perspective report would go a long way to “debunking the myth that a hydrogen economy is unattainable due to cost.”

Hydrogen Council co-chair, Benoit Potier, explained that a hydrogen society is closer than many think and that the next few years were crucial for the development of the energy source.

“A clean energy future with hydrogen is closer than we think, because the industry has been working hard on addressing remaining challenges,” said Potier.

“2020 marks the beginning of a new era for energy: As the potential for hydrogen to become part of our global energy system becomes a reality, we can expect fewer emissions and improved security and flexibility. This announces the decade of hydrogen.”

Chung finished his address by urging those in attendance to act now before it is too late.

“If we are to reach our global climate goals by mid-century and reap the benefits of hydrogen, now is the time to act.”

More than 80 senior executives were in attendance at the Hydrogen Council’s annual meeting, held in conjunction with the World Economic Forum in Davos.

Original source: Autotalk | Key steps towards a hydrogen society

24 Jan 2020