BNEF: Renewable hydrogen can replace gas in power generation

first_img FacebookTwitterLinkedInEmailPrint分享Renew Economy:Renewable hydrogen has the potential to slash the global greenhouse gas emissions of fossil fuel power generation and industry by more than one third, at a cost competitive with natural gas, new research has found – but it’s not the answer for low-carbon automotive transport.Bloomberg New Energy Finance’s (BNEF) Hydrogen Economy Outlook, published Monday, finds that with large-scale geological storage and the right policies in place, renewables-produced hydrogen could be used to replace natural gas in both dispatchable power generation and industrial applications.The report – just the latest in a raft of studies talking up the potential of green hydrogen – finds that solar and wind-based hydrogen could be produced for $US0.8 to $1.6/kg in most parts of the world before 2050, putting it on par with current gas prices on an energy-equivalent basis.The cost could be even lower in renewables-rich and spacious countries like Australia, the report says, where hydrogen could be produced from solar and wind farms that might otherwise be curtailed, stored and transported back to a generator at a cost between $8-14/MMBtu by 2050.“Hydrogen is promising and powerful because it can be used for so many things,” said the report’s lead author and BNEF’s head of industrial decarbonisation, Kobad Bhavnagri. “Renewable energy has paved the way to carbon-free electricity. But to meet net-zero emissions targets, we need to go beyond electricity and have carbon-free fuels. That is the role for hydrogen,” he said.“In the years ahead, it will be possible to produce it at low cost using wind and solar power, to store it underground for months, and then to pipe it on-demand to power everything from ships to steel mills.”[Sophie Vorrath]More: Renewable hydrogen to undercut gas on price, but not the answer for transport BNEF: Renewable hydrogen can replace gas in power generationlast_img

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