DNV released a new research focusing on how the energy industry is rising to the challenge of a hydrogen economy.
In fact, DNV’s report draws on a survey of more than 1,100 senior energy professionals and in-depth interviews with industry executives, on emerging hydrogen value chains, from production to consumption.
It suggests that more than just ambitions, the hydrogen pledges, plans, and pilots of recent years have now evolved into concrete commitments, investments and full-scale projects.
According to the survey, some 84% of senior energy professionals believe that hydrogen has the potential to be a major component of a global, low-carbon, energy system, while three quarters (73%) say Paris Agreement targets will not be possible without a large-scale hydrogen economy.
To meet the targets of the Paris Agreement, the world needs to transition faster to a deeply decarbonized energy system. In addition to energy efficiency gains, this will require greater renewable power generation and electrification, and the scaling of technologies to remove the carbon from fossil fuels. Hydrogen will be needed to connect and enable these paths.
…said Ditlev Engel, CEO of Energy Systems at DNV.
By 2025, almost half (44%) of energy companies globally involved in hydrogen expect it to account for more than a tenth of their revenue, rising to 73% of companies by 2030 – up significantly from just 8% of companies today.
What is more, 80% of energy professionals believe that hydrogen and electrification will work in synergy, helping both to scale up.
On the debate between green and blue hydrogen, the majority of energy professionals (77%) believe that both blue and green hydrogen need to work in synergy to successfully scale the hydrogen economy.
Concluding, the research identifies infrastructure and cost as two of the biggest hurdles, while the right regulations are deemed the most powerful enabler, followed by carbon pricing.
EXPLORE DNV RISING TO THE CHALLENGE OF A HYDROGEN ECONOMY RESEARCH HERE
