The Emerging Hydrogen Economy

Introduction

The worldwide demand for energy continues to grow at a substantial rate. The World Economic Forum predicts that by 2050, global energy demand will be between 30 to 40 percent higher than today, even on the assumption that the world becomes much more energy efficient¹. At present, the majority of the energy sources the world depends on release greenhouse gas emissions, particularly carbon dioxide, into the atmosphere.

As such, the renewables sector has focused on developing renewable and clean energy resources such as solar, wind, nuclear, hydropower and biofuels as alternatives to fossil fuels. However, hydrogen is set to make a return to the mainstream as the international community seeks to respond to the world’s energy and climate challenges, particularly in light of the targets set by the 2015 Paris Climate Agreement and recent climate activism around the world.