BML 4.93 Increased By ▲ 0.08 (1.65%)
BOP 12.94 Decreased By ▼ -0.09 (-0.69%)
CNERGY 7.14 Increased By ▲ 0.07 (0.99%)
CPHL 84.96 Increased By ▲ 0.95 (1.13%)
DCL 13.80 Increased By ▲ 0.50 (3.76%)
DGKC 173.11 Increased By ▲ 1.18 (0.69%)
FCCL 46.20 Increased By ▲ 0.13 (0.28%)
FFL 15.89 Increased By ▲ 0.19 (1.21%)
GCIL 26.96 Increased By ▲ 1.04 (4.01%)
HUBC 150.00 Increased By ▲ 4.44 (3.05%)
KEL 5.28 Increased By ▲ 0.03 (0.57%)
KOSM 6.42 Increased By ▲ 0.01 (0.16%)
LOTCHEM 20.80 Increased By ▲ 0.28 (1.36%)
MLCF 85.63 Increased By ▲ 0.76 (0.9%)
NBP 126.10 Increased By ▲ 1.33 (1.07%)
PAEL 41.76 Increased By ▲ 0.04 (0.1%)
PIAHCLA 22.19 Decreased By ▼ -0.14 (-0.63%)
PIBTL 10.22 Increased By ▲ 0.53 (5.47%)
POWER 13.97 Increased By ▲ 0.09 (0.65%)
PPL 165.00 Increased By ▲ 1.53 (0.94%)
PREMA 42.10 Decreased By ▼ -0.34 (-0.8%)
PRL 33.00 Increased By ▲ 0.18 (0.55%)
PTC 22.80 Increased By ▲ 0.89 (4.06%)
SNGP 118.29 Increased By ▲ 1.30 (1.11%)
SSGC 45.25 Decreased By ▼ -0.27 (-0.59%)
TELE 8.00 Increased By ▲ 0.09 (1.14%)
TPLP 10.18 Decreased By ▼ -0.07 (-0.68%)
TREET 24.12 Increased By ▲ 0.73 (3.12%)
TRG 56.90 Increased By ▲ 0.50 (0.89%)
WTL 1.53 No Change ▼ 0.00 (0%)
BR100 14,141 Increased By 276.6 (2%)
BR30 40,136 Increased By 636.7 (1.61%)
KSE100 138,666 Increased By 2285.5 (1.68%)
KSE30 42,353 Increased By 806.9 (1.94%)

PARIS: “Green hydrogen” produced using renewable energy will soon plunge in cost, becoming cheaper than natural gas in many areas, according to a study released Wednesday by the research group BloombergNEF.

Hydrogen is considered a leader in the race to develop sustainable energy sources and slash carbon emissions.

But it is expensive to produce and the electricity needed generates a lot of carbon dioxide emissions or other pollutants.

Green hydrogen is produced via electrolysis — an electrical current passing through water — with wind, solar or hydroelectric power providing the electricity.

BloombergNEF (BNEF) researchers forecast its cost will fall steadily in the future, in large part due to lower prices for solar photovoltaic power (PV).

“We now think that PV electricity will be 40 percent cheaper in 2050 than what we had thought just two years ago,” BNEF specialists said in a report.

“The costs of producing ‘green’ hydrogen from renewable electricity should fall by up to 85 percent from today to 2050,” they concluded.

In the majority of 28 markets covered by the study, green hydrogen production could cost less than one US dollar per kilogramme by 2050.

In 15 of those markets — which represented one-third of global gross domestic product in 2019 — it was forecasted to become cheaper than natural gas.

By just 2030, green hydrogen was projected to cost less than “blue hydrogen,” which is produced with electricity generated by fossil fuels using a process that captures greenhouse gas emissions. It is expected to cost less than even dirtier “grey hydrogen”, which lacks that process, by 2050.

“Such low renewable hydrogen costs could completely rewrite the energy map,” BNEF hydrogen analyst Martin Tengler said.

In the future, “at least 33 percent of the world economy could be powered by clean energy for not a cent more than it pays for fossil fuels”, he added. For that to happen however, “the technology will require continued government support,” Tengler acknowledged. One reason for strong interest in hydrogen technology is that when it is used to fuel motors, the only emission is water vapour.

Comments

Comments are closed.