GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

The Hydrogen Council reveals first-of-a-kind study showing hydrogen's contribution as a key pillar of the energy transition

Dubai, United Arab Emirates, November 21, 2017: As global leaders gathered at COP23 in Bonn, Germany, 18 key leaders in their industry verticals, united in the Hydrogen Council coalition, came together to launch first-ever globally quantified vision of the role of hydrogen, developed with support from McKinsey & Company. In addition to being a key pillar in the energy transition, the study shows that hydrogen has the potential to generate US$2.5 trillion worth of business, creating more than 30 million jobs by 2050.

Taking the Hydrogen Council's vision for hydrogen to the next level, the study entitled ‘Hydrogen, scaling up' outlines a comprehensive and quantified roadmap to scale deployment and its enabling impact on the energy transition.

Deployed at scale, hydrogen could account for almost one-fifth of total final energy consumed by 2050. This would reduce annual CO2 emissions by roughly 6 gigatons compared to today's levels, and contribute roughly 20% of the abatement required to limit global warming to two degrees Celsius.

On the demand side, the Hydrogen Council sees the potential for hydrogen to power about 10 to 15 million cars and 500,000 trucks by 2030, with many uses in other sectors as well, such as industrial processes and feedstocks, building heating and power, and power generation and storage. Overall, the study predicts that the annual demand for hydrogen could increase tenfold by 2050 to almost 80 exajoules (EJ) in 2050, meeting 18% of total final energy demand in the 2050 two-degree scenario. At a time when global populations are expected to grow by two billion people by 2050, hydrogen technologies have the potential to create opportunities for sustainable economic growth.

“The world in the 21st century must transition to widespread low-carbon energy use,” said Takeshi Uchiyamada, Chairman of Toyota Motor Corporation and Co-chair of the Hydrogen Council. “Hydrogen is an indispensable resource to achieve this transition because it can be used to store and transport wind, solar, and other renewable electricity to power transportation and many other things. The Hydrogen Council has identified seven roles for hydrogen, which is why we are encouraging governments and investors to give it a prominent role in their energy plans. The sooner we get the hydrogen economy going, the better, and we are all committed to making this a reality.”

Achieving such scale would require substantial investments; approximately US$20 to 25 billion annually for a total of about US$280 billion until 2030. Within the right regulatory framework – including long-term, stable coordination, and incentive policies – the report considers that attracting these investments to scale the technology is feasible. The world already invests more than US$1.7 trillion in energy each year, including US$650 billion in oil and gas, US$300 billion in renewable electricity, and more than US$300 billion in the automotive industry.

“This study confirms the place of hydrogen as a central pillar in the energy transition and encourages us in our support of its large-scale deployment. Hydrogen will be an unavoidable enabler for the energy transition in certain sectors and geographies. The sooner we make this happen, the sooner we will be able to enjoy the needed benefits of hydrogen at the service of our economies and our societies,” said Benoît Potier, Chairman and CEO, Air Liquide. “Technologies are mature and industry players are committed. We need concerted stakeholder efforts to make this happen; leading this effort is the role of the Hydrogen Council.”

The launch of the new roadmap came during the Sustainability Innovation Forum in the presence of 18 senior members of the Hydrogen Council led by co-chairs Takeshi Uchiyamada, Chairman of Toyota and Benoît Potier, Chairman and CEO, Air Liquide, and accompanied by Prof. Aldo Belloni, CEO of The Linde Group, Woong-chul Yang, Vice Chairman of Hyundai Motor Company, and Anne Stevens, Board Member of Anglo American. During the launch, the Hydrogen Council called upon investors, policymakers, and businesses to join them in accelerating deployment of hydrogen solutions for the energy transition. It was also announced that Woong-chul Yang of Hyundai Motor Company will succeed Takeshi Uchiyamada of Toyota in the rotating role of the Council's co-chair and preside the group together with Benoît Potier of Air Liquide, in 2018.



Posted by : GoDubai Editorial Team
Viewed 7851 times
Posted on : Tuesday, November 21, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Financial Times names Masdar City best free zone for renewable energy
Next Story : Quantum Eurostar to implement the largest ESCO project in the UAE leisure and entertainment sector
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Reverse the effects of hair fall with Crescina Re-Growth HFSC Shampoo
Achieve whiter teeth at home with Spotlight Teeth White Strips
Time for Some AIGNER Love
Noble™ Anti-aging Skin Care Products
Golden Bridge Rectangle Diamonds Celebrates The Virtuosity Of Art Deco Design Genius
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment
UAE National Day celebrated in Skyline Carnival 2017
RUNWAY DUBAI creates a new buzz campaign for fashion tourism
SUC signed MOU with Waldorf Astoria Ras Al Khaimah
SUC conducted Tour Guide Training Program for SCTDA
Calvin Klein Presents Steadfast Collection
Gift gorgeous skin this festive season.
Mohammed bin Rashid Launches UAE Astronaut Programme
Mido's Multifort Escape - An uncompromising timepiece for exploring new horizons
NIVEA MEN and Real Madrid Extend Partnership Globally Covering 70+ Countries
Sthan, bringing you authentic Frontier food from beyond borders, is now open in Dubai
Eberhard & Co. celebrates 130th Anniversary with special commemorative Edition C...
Coach Women's Lex Stainless Steel Bracelet Watch Collection
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlet in Meena ...
Absolutely Rejuvenated Skin to Start the New Year
BOSS watches presents Navigator Collection
Together for Egyptian Cinema: A Million happy viewers
Celebrate the Festive Season With the Galleria on Al Maryah Island in Abu Dhabi
Feast your way into the festive season at The Coffee Club
Bovet Presents Brilliant Is Beautiful Gala Benefitting Artists for Peace and Ju...
Dubai Land Department Launches its Smart Archiving System
Svelte BU4108-11H dress watch in black and rose gold plating makes an impact
Gourmet Gifting at Tub of Butter
Hottest Smartphone ever! Go get a true luxury phone from HUAWEI
Over 200 developers across India participate in CREDAI's Indian Property Show
Robinsons National Day Trunk Show
The First “Dilmah Silver Jubilee Gourmet” in a Middle East Hotel Opens in Pullma...
Lg V30+ Launches in the Uae and Makes Its Way Into Customers' Pockets and Lives
Glamazle.com names a Lipstick after Yardstick Marketing as a testimonial to the ...
Unilever's Lipton Jebel Ali Tea Factory First in MENA to Achieve Bronze World Cl...
Step into 2018 with skinade & slow down the signs of ageing
Ghantoot present 17th Emirates Open Polo Championship International
More Than 6,000 Bears Donated to Toys With Wings & Emirates Red Crescent for Nov...
Epson to showcases the future of large laser display technology at InfoComm MEA 2017
Automechanika Riyadh turns focus on exciting growth potential of Saudi automotiv...
Dubai Customs reaffirms efforts to combat counterfeit goods with Japanese partners
Awqaf and Minors Affairs Foundation, Family Village Celebrate 46th UAE National Day
The Verses of Peace Exhibition begins at the Abu Dhabi World Trade Centre
With the Increasing Trend of Grooming Among Men, Kaya Skin Clinic Launches an Ex...
Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride c...
Switzerland wins a Good Design Award for the first chronograph-watch in history
Green Hope on Former US Vice President Al Gore's 24 Hours of Climate Reality telecast
The du Youth Council Holds a Volunteering Day at Al Ain Zoo with People of Deter...
Indian realty in revival mode, says industry expert
Strong Airline Profitability Continues in 2018