Carbon Footprint

The climate crisis is palpable. The continued projections of damage caused by the emission of greenhouse gases are dire and incalculable: rising global temperatures, shrinking glaciers, warming oceans, vanishing coastlines and increasing natural catastrophes leading to the displacement of millions of people. Curbing the greenhouse effect is becoming the decisive factor for energy policies.    

Directing capital to Hydrogen is key to enabling growth in the US.  With at-scale adoption across sectors, the Hydrogen industry has the potential to create revenues of roughly $140 billion per year and support about 700,000 jobs by 2030 in Hydrogen production, infrastructure, and equipment.  By 2050, Hydrogen could enable a market of $750 billion per year with 3.4 million new jobs. 

China has announced hydrogen transport industry investments of more than $17 billion through 2023. In Europe, Germany’s investment includes $110 million annually to fund research laboratories to test new Hydrogen technologies for industrial-scale applications.

 For electrolysis Hydrogen, the US has ample renewable and low-carbon electricity resources, including wind, solar, hydropower, and nuclear. The US is developing large-scale renewable power, with forecasts for the costs of electricity production as low as $20 per MWh in 2030.  A scaled-up industry could deliver green hydrogen for a benchmark cost of $2/kg and $1/kg by 2050.