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8 - The Hydrogen Economy

from Technologies for Decarbonising the Electricity Sector

Published online by Cambridge University Press:  08 October 2021

By
Fiona J. Beck ,
David Gourlay ,
Michelle Lyons  and
Mahesh B. Venkataraman
Edited by
Kenneth G. H. Baldwin ,
Mark Howden ,
Michael H. Smith ,
Karen Hussey  and
Peter J. Dawson
Kenneth G. H. Baldwin
Affiliation:
Australian National University, Canberra
Mark Howden
Affiliation:
Australian National University, Canberra
Michael H. Smith
Affiliation:
Australian National University, Canberra
Karen Hussey
Affiliation:
University of Queensland
Peter J. Dawson
Affiliation:
P. J. Dawson & Associates
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Summary

Hydrogen could help transition the global energy system to a low-carbon future by providing an energy-dense, carbon-free fuel suitable for a wide range of applications. Hydrogen is already used extensively by industry; however, the current supply chain is relatively simple and relies heavily on fossil fuels, resulting in greenhouse gas emissions. The value chain for a future hydrogen economy will be more complex and require different technologies to be further developed and scaled up, including low-emission hydrogen production, large-scale storage and transport, and new energy and industry applications. Hydrogen produced with zero carbon emissions has the potential to be a major new globally traded commodity, which could enable countries with limited renewable energy potential to decarbonise their economies, diversify the global energy supply, and increase energy security. The emergence of the hydrogen economy faces economic, social acceptance and regulatory challenges. Governments around the world have a role to play in providing policies to address potential market failures, socialising the widespread use of hydrogen and establishing international governance and regulations.

Keywords

Hydrogen productionhydrogen storagehydrogen transportdecarbonising industrytradegovernancesocial licensetransport
Type
Chapter
Information
Transitioning to a Prosperous, Resilient and Carbon-Free Economy
A Guide for Decision-Makers
 , pp. 173 - 200
Publisher: Cambridge University Press
Print publication year: 2021

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