RE: Hydrogen is currently the only solution to decarbonize some industries, RWE exec says16 Mar 2021 22:24
As natural reserves dwindle and the populations grow, there’s this need to find a clean, sustainable energy solution that’ll meet our energy demands,” Jablonski said. “None of the existing alternative energy sources out there now like solar, wind or biomass are able to provide sufficient, cost-effective energy supply.”
That’s where hydrogen comes in. Though it currently costs more to produce than other alternative energy sources, those costs are expected to be slashed in half in the coming years, Jablonski said.
It’s also a “massive investment opportunity,” the CIO said — and she’s not the only one who thinks so. Bank of America estimates that the roughly $200 billion industry will grow to $11 trillion of investment and account for some 25% of the world’s energy needs, generating $2.5 trillion in direct revenues by 2050.
“It’s the most abundant element in the universe,” Jablonski said. “Solar and wind are just amazing alternative energy resources, but hydrogen can really take scale.”