For decades, American energy development and environmental policy has forced itself into an opposing, binary choice: fossil fuels or renewables. While the debate rages, innovations may well make the need for that choice obsolete. Let’s give a warm welcome to the potential of hydrogen.
Hydrogen and carbon capture, utilization and storage (CCUS) can use traditional fuels or renewable energy to create an energy source to reduce carbon emissions and move the country toward a cleaner energy and manufacturing future.
Source: GPI, An Atlas of Carbon and Hydrogen Hubs
Recently, the U.S. Department of Energy announced it is on course to designate six to 10 regional hydrogen hubs across the country and distribute $8 billion among them over five years to spur the industry’s growth and innovation. This may be one of the few times that government policy allowed the marketplace to lead the way, because alliances already have formed across the country to develop the hubs, with or without federal funding.
In fact, Goldman Sachs says the momentum in the marketplace could lead to a 400-fold increase in global clean hydrogen capacity in this decade and a $250 billion market by 2030.
Source: GPI, An Atlas of Carbon and Hydrogen Hubs
Significant work already is being done to develop one of the hubs here in the tri-state (OH-PA-WV) region, leveraging the existing infrastructure and regional assets. As home to one of the world’s largest natural gas basins, we’re sitting on the means to produce clean hydrogen from natural gas and convert it into low-carbon fuels. The resulting carbon emissions can be captured and stored in our existing geology. Decades of investment in pipeline distribution networks make possible an important advantage for moving hydrogen to key end users producing materials and products. Our regional history as industrial leaders enables us to power the future of energy production.
The marketplace already has recognized that this technology is truly a win-win. It will wisely use our resources, contribute to decarbonization and create new jobs across the entire region to boot. The future is here, and it is hydrogen.
