Busting 5 myths around Green Hydrogen
#1: Green Hydrogen is Expensive
No! Green hydrogen will not be expensive after wide adaptation of the technology. Green hydrogen is currently more expensive than traditional hydrogen, which is produced using fossil fuels. This is because the technology for producing green hydrogen is still relatively new and not yet widely adopted, so it is not yet as cost-effective as traditional methods. However, as the technology continues to advance and more companies begin to adopt green hydrogen production, it is expected that the cost will decrease over time. In the present scenario, green hydrogen costs are being reported in the range of 2.5 - 6 USD/kg of Green Hydrogen. However, scale-up and innovations cost per kilogram of Green Hydrogen will rapidly be reduced and it is predicted that the cost will come down to 1 - 3 USD/kg of Green Hydrogen by 2050.
Additionally, the increased demand for green hydrogen will also drive down the cost, making it more affordable and competitive with traditional hydrogen. As an example, the use of green hydrogen can be seen in increasing industries such as steel, glass, cement and fertilizer. This is because of green hydrogen's position as a promising bridge between these industries and renewable energy. In the long term, this movement of green hydrogen in large-scale industries such as steel, cement, glass, and fertilizer could boost investment, usage and application, so that we can expect a sustainable price tag on it.
#2 Green hydrogen is only a futuristic thriller
No, green hydrogen is not only a futuristic concept. It is already being produced and used in a variety of applications today. For example, it is being used in fuel cell vehicles, as a chemical feedstock for the production of fertilizers and other chemicals, and power generation. While the production of green hydrogen is not yet as widespread as that of traditional hydrogen, which is produced using fossil fuels, it is an area of active research and development and is expected to play an increasingly important role in the transition to a low-carbon economy.