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Global Hydrogen Regulatory Frameworks and Growth Opportunities
Our pathway toward decarbonization and achieving the 1. 5° Celsius target necessitates supportive regulatory frameworks mandating energy-efficiency measures across the commercial, industrial, and residential segments.
New York, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Hydrogen Regulatory Frameworks and Growth Opportunities" - https://www.reportlinker.com/p06312001/?utm_source=GNW
It also requires significant economic investments driving renewables and the switch to nuclear low-carbon and large-scale CCUS technologies. Interest in hydrogen as a low- or zero-carbon energy carrier has grown in recent years. Many governments acknowledge that a hydrogen-based economy could be the best alternative to the present fossil fuels-based economy and an answer to concerns over carbon emissions, energy security, and climate change. Hydrogen helps curb carbon emissions by:
• Decarbonizing the carbon-intensive automotive, maritime, aviation, and industrial sectors
• Integrating more RES to produce hydrogen, reducing the curtailment rate
• Providing resiliency and reliability to the electric grid as an ESS and supplementing RES during low-demand periodsThough the promise of hydrogen as an essential tool in catalyzing the transition toward a sustainable energy economy is huge, its current application is mostly limited to the industrial sector. Many projects across power generation, transport, and other segments are still in their pilot stages and require technological and cost breakthroughs for increased adoption. There is still a long way to go, and it will likely take another 10 to 20 years before the hydrogen economy becomes mainstream across the global power sector and other segments. For the hydrogen economy to become a reality, decisive government actions in four areas are necessary:
• Supporting R&D activities related to technologies involved in the production, storage, transport, and utilization of hydrogen
• Providing incentives to companies for developing the hydrogen and CCUS infrastructure
• Addressing socioeconomic barriers inhibiting the growth of the technology and mandating policies toward decarbonization
• Developing a roadmap toward a hydrogen economy In the past five years, many countries have developed a hydrogen strategy prioritizing targets and investments running into billions over the next decade. While some nations are focused on production and export, others are making domestic and foreign investments to ensure future supply. There are also specific targets relating to production, in terms of cost or quantity, or particular areas targeted for decarbonizing, such as industries, heating, power, or mobility. The primary aim of this research study is to analyze the policies and roadmaps implemented by various countries toward hydrogen adoption to achieve a sustainable energy future. The study also identifies growth opportunities for the hydrogen market and the countries and companies active in this space.
Author: Swagath Navin Manohar
Read the full report: https://www.reportlinker.com/p06312001/?utm_source=GNW
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