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Source: Deloitte Report

By 2030, The Hydrogen Market will Overtake LNG, According to Deloitte

According to Deloitte, the hydrogen market will generate $642 billion in yearly income by 2030 and $1.4 trillion by 2050, surpassing the value of the liquid natural gas trade. According to the firm, opening up the green hydrogen market to its full potential requires international trade and a diverse transportation infrastructure.

According to Deloitte’s forecast, key trading regions might produce more than $280 billion in yearly export earnings by 2050.

China, India, and Indonesia are predicted to have the highest growth rates in demand, accounting for 55% of the global market by 2030.

The paper states that to reach net-zero compliance by 2050, investments totaling more than $9 trillion must be made in the worldwide clean hydrogen supply chain. Additionally, it asserts that clean hydrogen offers emerging nations a sizable sustainable growth opportunity.

Researchers from the University of Alberta have examined the impact of small modular nuclear reactor power plants (SMNRPPs) on the price of hydrogen supply. According to their research, hydrogen supply costs in electricity markets with a high reliance on fossil fuels can range from CAD 1.77/kg ($1.34/kg) to CAD 3.36/kg, whereas in markets with a low reliance on fossil fuels, the range is thought to be CAD 2.11/kg to CAD 2.77/kg.

In the study “Assessing the cost competitiveness of electrolytic hydrogen production from small modular nuclear-reactor-based power plants: A price-following perspective,” the researchers’ analysis combined models for economic dispatch and leveled cost analysis. The researchers also took into account SMNRPPs’ agility to change power output in response to shifting electricity market prices. They emphasized that at a capital cost reduction of CAD 4,700/kW, the SMNRPP-electrolysis system outperforms fossil fuel-based hydrogen generation in terms of cost-effectiveness, with capital cost accounting for 75% of the variance in hydrogen supply cost. The work was printed in the journal Applied Energy.

In Germany’s Saarland, Iqony Energies has declared its intention to build a 53 MW electrolysis facility. The startup wants to make it easier for regional industries, such as the steel and mobility sectors, to reduce their carbon emissions. Waiting for an adequate European hydrogen pipeline network could slow the industry’s adoption of hydrogen, according to Iqony Energies managing director Anke Langner.

After discovering an issue and leak in one of its 12 hydrogen trailers, Everfuel started a controlled venting operation for all hydrogen trailers from the same supplier. In the original inquiry report, a valve was identified as the leak’s cause, while it was also noted that it might have been a systemic problem.

Source: PV-Magazine

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