Trillion-dollar track hydrogen energy storage

What is a hydrogen-based chemical energy storage system?

A hydrogen-based chemical energy storage system encompasses hydrogen production, hydrogen storage and transportation, and power production using hydrogen as a fuel input21. (See Exhibit 12.) The application of HESS centers around the energy conversion between hydrogen and other power sources, especially electricity.

What is hydrogen-fueled transportation?

With continuous technology breakthroughs and business model innovations, hydrogen-fueled transportation serves as the “leading” application of green hydrogen by connecting the processes in the hydrogen industry chain and boosting the development of the whole hydrogen ecosystem. Hydrogen as an energy carrier is the most promising application.

How big is the hydrogen generation market?

He echoed a recent report by the bank that was published in early February which predicted that by 2050 the hydrogen generation could be a global market of more than $1 trillion. Today, the market size hovers around $125 billion. DellaVigna co-authored this research report.

What is hydrogen energy storage system (Hess)?

Hydrogen energy storage system (HESS) hereby attracts attention for its huge potential in renewable energy intensive power grids because of its big capacity, long period, and clean and eficient nature. (See Exhibit 11.) Hydrogen is an eficient and clean energy carrier as it is energy-dense and carbon-free.

Why is hydrogen-powered transportation important to the energy structure evolvement?

Despite the limited demand today, hydrogen-powered transportation is meaningful to the energy structure evolvement, as it marks an expansion of hydrogen application from an industrial feedstock to a power source.

How is hydrogen stored?

Hydrogen is commonly stored in a gaseous or liquid state. Gaseous state storage is currently the most common approach due to its reasonable cost. In a gaseous state with small volumes, hydrogen is usually stored in pressurized tanks that are either all metal or composite overwrapped pressure vessels.