Hydrogen: A catalyst for decarbonisation

Hydrogen is gaining momentum as a versatile solution with the potential to decarbonise various sectors. Exploring the current state of hydrogen, challenges and prospects that lie ahead.

- Sujatha Vishnuraj

The world faces a pressing challenge: DECARBONISATION. To combat climate change, nations worldwide are working to reduce greenhouse gas emissions and shift to cleaner energy sources. International conferences like COP26 (2021) and COP28 (2023) have been pivotal in promoting global collaboration. According to a comprehensive analysis, the year 2024 is poised to be a transformative period for the energy sector.

Central to this transition is Hydrogen, which is not only becoming a key player but also a catalyst for profound changes in the energy landscape. Produced using renewable energy sources like solar, wind, hydro, and biomass, green hydrogen offers a clean alternative to fossil fuels. However, largescale production requires substantial renewable energy capacity.

As a sustainable energy carrier, hydrogen holds promise for applications in transportation, industry, and power generation. In 2021, the global green hydrogen market was valued at $2.14 billion. A recent MarketsandMarkets report projects the market will grow from $1.1 billion in 2023 to $30.6 billion by 2030, with a CAGR of 61.1%. This growth marks a significant shift towards sustainable energy, with green hydrogen expected to make up 50-65% of the global supply by 2050. Key drivers include technological advancements, particularly in alkaline electrolysis, which uses renewable sources. This process involves an electrolyzer splitting water into hydrogen and oxygen in an alkaline solution. Using renewable electricity, this method avoids greenhouse gas emissions, contributing to its rapid adoption and market expansion.