BAKU, Azerbaijan, Feb.24
By Leman Zeynalova – Trend:
Hydrogen will have a major role in power industry in the new future, Trend reports with reference to GlobalData.
The company believes that the power industry can leverage hydrogen’s potential as a cleaner burning alternative to conventional fuels in the evolving hydrogen economy.
GlobalData said in its report that while the cost of producing hydrogen from renewable energy sources is currently expensive, the momentum that has been built along the entire value chain is accelerating the cost reduction in hydrogen production, transmission, distribution, retail, and end-applications.
“Now is the time to scale up low-carbon technologies and lower their costs, so that hydrogen technology can be widely utilized. Sectors such as oil refining and ammonia, methanol, and steel production have been using hydrogen extensively. Hydrogen will play a critical role in the transition to clean energy with the advancement of its applications in sectors such as transportation (fuel cell vehicles), buildings (hydrogen blending), and power generation,” the report reads.
Currently, in the power industry, hydrogen plays a minimal role and accounts for less than 0.2 percent of electricity generation, according to the International Energy Agency.
“However, a change is highly possible in the near future, as the mixing of ammonia can decrease the impact of carbon in existing conventional coal-fired power plants, hydrogen gas turbines, and combined-cycle gas turbines (CCGT). When it comes to long-term and large-scale energy storage, hydrogen (in the form of compressed gas, ammonia [NH3], or synthetic methane) has a role to play in balancing seasonal variations in electricity supply and demand from renewable energy sources,” the company believes.
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