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News: Prime Minister recently announced that India would aim for net-zero carbon emissions by 2070.
At present, nearly 75% of India’s energy needs are met by coal and oil. Thus, to reduce dependence on coal and oil, the synergy between renewable energy and green hydrogen must be tapped.
What is the global scenario with regard to Green hydrogen?
At present, more than 30 countries have hydrogen road maps and over 200 large-scale hydrogen projects across the value chain.
According to Hydrogen Council, governments worldwide have committed more than $70 billion in public funding to develop a hydrogen economy.
What is the significance of green hydrogen as a source of renewable energy?
Read – All about green Hydrogen
India has already increased its solar capacity nearly 3,000 times in less than a decade, now it can use this experience in increasing green hydrogen production.
Nearly 70% of the investment, required to produce green hydrogen through electrolysis, goes into generating renewable energy.
Green hydrogen improves the long-term energy storage capabilities of renewable energy. It is also the most promising solution to decarbonise sectors like cement, steel, and refineries.
India can reduce its carbon emissions and annual import bills by developing a value chain for hydrogen from its production to its diverse applications.
What is the way forward?
Attract private investments through government funding and progressive long-term policies.
Hydrogen’s uses in different sectors should be encouraged, according to each sector’s cost and ease of adoption.
-Firstly, a few key sectors with low transition costs, such as refineries, fertilizers, and natural gas, should be
mandated to use hydrogen to bring down costs.
-Secondly, as part of medium-term goals new demand from steel, cement, and road mobility should be exploited.
-Thirdly, in the long run, heavy-duty vehicles should receive government incentives. For example Shipping, aviation, solutions for energy storage should be mandated to use green hydrogen in the long run.
Source: This post is based on the article ”Boosting green hydrogen” published in The Hindu on 29th November 2021.
