Hydrogen to meet 12pc of energy demand by 2050: Irena
- Date: 18-Jan-2022
- Source: Argus Media
- Sector:Oil & Gas
- Country:Saudi Arabia
Hydrogen to meet 12pc of energy demand by 2050: Irena
London, 18 January (Argus) — The International Renewable Energy Agency (Irena) forecasts low-carbon hydrogen could meet 12pc of final energy use by 2050, if policies are put in place to limit global temperatures to a 1.5°C increase.
Its Geopolitics of the Energy Transformation report projects global demand to near quadruple to around 410mn t/yr from 120mn t/yr in 2020, with green hydrogen produced from renewable energy supplying two-thirds and a third for blue hydrogen that is largely derived from gas but has its carbon emissions captured, stored or reused. Fossil-derived grey hydrogen, almost all the hydrogen currently produced, is expected to be entirely phased out.
Green hydrogen by 2030 may become cost-competitive with blue hydrogen in China because of low-cost electrolysers and in India and Brazil where renewables are cheap and gas is expensive, the report said.