http://doi.org/10.35668/2520-6524-2024-1-01
Fedulova S. O. — D. Sc. of Economics, Professor, Head of the Global Economy Department, Alfred Nobel University, 18, Sicheslavska Naberezhna Str., Dnipro, Ukraine, 49000; +38(067)775-76-89; sveta_fedulova@ukr.net; ORCID: 0000-0002-5163-3890
HYDROGEN ECONOMY POTENTIAL AND LOW-CARBON DEVELOPMENT
Abstract. The issue of hydrogen production and the formation of its cost price as a solution to global energy problems has been examined in the article. The main idea of the article is focused on exploring the potential of the hydrogen economy to achieve the goals of the Paris Climate Agreement and decarbonize many emission sectors. The study reveals and describes the main ways of producing gray, blue and green hydrogen and related problems of reducing the cost of one kilogram of hydrogen. Hydrogen is a universal energy carrier, both in the way it is produced and in the final products it can produce. The functioning of regional hydrogen markets with existing value chains has been described in the article. The main characteristics of hydrogen trade in the era of energy transition are defined and substantiated. Carbon intensity is a key characteristic of hydrogen trade. One of the common problems associated with electrolysis is the consumption of water used as feedstock. Therefore, water is another important resource in the production of hydrogen. It was determined that a situation is not foreseen when water consumption will become the main obstacle to the expansion of the use of renewable hydrogen. The study substantiates that the cost of green hydrogen will decrease by 2030 due to the decrease in the cost of electricity and the expected decrease in the cost of electrolyzers. Continued technological innovation and economies of scale are also likely to drive down the price as well. It is predicted that by 2050, the cost of green hydrogen will be even lower than that of blue hydrogen. Hydrogen can provide decarbonization of many emission sectors. At the same time, the role of carbon emissions regulation is vital for increasing the attractiveness of hydrogen technologies for investors.
Keywords: hydrogen economy, low-carbon development, decarbonization, electrolysis, hydrogen, cost price.
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