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 16452 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
Filorga Launches FLASH-NUDE Collection
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
Maintain Healthy Skin Year Round
PopSockets launches a new collection with crystals from Swarovski, the must-have...
Free gold coins at Malabar Gold & Diamonds Festival
MIDO Baroncelli Lady Day & Night collection
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
Interview with Asil Attar, CEO of Al Yasra Fashion
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
Get Ready for Party Season with Lottie's new make-up hits
GAZOO Racing Wins Australia Rally at FIA World Rally Championship
Golden Mile Galleria's ‘A Cultural Flair' attracts hundreds of art lovers to Pal...
Festive Gift Sets from Bubble T
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
Winter wool Christmas must- haves
Time For Enchanting Moments
Samsung Galaxy A9 – Designed to capture the world in its fullest
New 1948 Seamaster Watches Join the Ranks'
Michael Kors Collection Transeason 2019 Press Presentation
Chic and Stylish Wraps with a 3 in 1 effortless concept
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus...
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
Five-Star Euro NCAP for Jaguar's Electric I-PACE
DKNY Launches (Limited Edition) Holiday 2018 Collection
Global Knowledge Index 2018 and The Future of Knowledge: A Foresight Report shin...
France Attractiveness Scoreboard 2018 Released
Dubai Shopping Festival Wednesday Specials at The Smile Bar
Dubai's Most Magical Festive Market Opens at Dubai Festival City Mall
Ring in a dazzling festive season at Ibn Battuta Mall
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
Get Party Ready with Champion Cleaners
Nine winners honored by DQG for their innovative ideas at the 10th Global Contin...
Dubai Customs wins 3 awards from Ideas UK 2018
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
New ACH145 Mercedes-Benz Style Cabin Model Highlights First Presence at MEBAA fo...
Al Hosn Now Open to the Public
No P-ain, No G-ain! Mega Musclemen Return to Dubai
ICAEW recognises Middle East's best finance professionals
Voting on UAE Superbrands 2019 Begins
It's a Wrap! The Second JLT Restaurant Awards Conclude with a Glitzy Ceremony At...
His Highness Sheikh Saud discusses collaboration with British Consul-General And...
CBUAE and Central Bank of China meet to Enhance Renminbi Clearing in the UAE
Young Emirati Champion Rashid Al Dhaheri Powers Ahead to Stunning Victory at the...
Arla Foods launches initiative with UAE Ministry of Education to promote healthi...
Abu Dhabi International Airport Becomes First Transport Hub to Harvest Energy an...
Zayed Book Award Longlist Announced for ‘Young Author' Category (2018 - 2019)
Ford's Desert Driving Tips, Episode 4: Driving Safely in the Desert