![]() The Current Global Impacts of CO 2 EmissionsĬapital allocation centered around energy transition, such as the Green Deal, are gaining momentum and instigating advancements to grow renewables, develop new energy carriers, improve energy efficiency, reduce emissions, and create new markets for carbon and other byproducts as part of an increasingly circular economy. There are challenges with this energy source, especially related to reducing the cost of hydrogen applications, but individuals, organizations, and policymakers can make a difference when they are informed and prepared to act regarding renewable hydrogen’s possibilities. ![]() ![]() In addition to government efforts, companies like Airbus and ZeroAvia are tackling the transition to zero-emission aviation through the development of hydrogen-electric engines for airplanes. Europe is at the forefront of commercializing hydrogen, where Germany and France are investing millions of euros to develop a project with an advanced hydrogen turbine that does not require the use of fossil fuels. In the U.S., the Department of Energy Hydrogen Shot program aims to reduce the cost of hydrogen by 80% to $1 per kilogram in one decade, and its recent landmark Inflation Reduction Act (IRA) provides $369 billion to accelerate the deployment of clean energy technologies such as green hydrogen. Meanwhile, India has announced its plan to invest 2.3 billion in green hydrogen energy development. Described as the “most abundant clean fuel in the universe,” the application of hydrogen as a fuel for transportation, including plans for a hydrogen-powered aircraft in the next decade, and growing uses in everything from ammonia fertilizers to shipping, indicate its renewable clean qualities are an attractive alternative to carbon-based fuels.Ĭhina and India are frontrunners to become world leaders in the use and export of clean hydrogen, with China consuming and producing more hydrogen than any other country at more than 24 million tonnes a year. Climate change and the dangers posed to the environment by increasing levels of CO 2 have led to a greater focus on a non-polluting energy source: renewable hydrogen.
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