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 13579 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
100% Vegan New… Body Yogurts 15 Seconds to Glowing Healthy-looking Skin Spoon It on
Therése Neaimé- Sold to perfection
Leaves of Joy
Marni Eyewear Collection, Exclusively Available at Grand Optics
Linda Paradis brings non-invasive ink removal to Dubai
ba&sh The Modest Collection
Sandro's SS18 Top Picks - It all begins with color!
IKEA announces latest INDUSTRIELL and HJÄRTELIG Collections
Sony's PXW-Z280, World's first 4K 3-chip Camcorder with new 1/2-type Exmor R CMO...
Martin Hoping for Amstel Gold as Irishman Leads Team to Ardennes Classics
Timeless Ties
Scuderia Ferrari Abetone Collection
HP's New High-Performance Workstations Push Creative and Technical Workflows to ...
Tommy Hilfiger's SS2018 men's and women's watch collection
Boss watches presents the Ocean Edition
Sophie's Café Introduces Ve-Gang Tuesdays for ladies starting from 17th April
The Chronofighter Grand Vintage by Graham is exactly as big as it appears in the...
Al-futtaim Names Its New Dubai Lifestyle Mall – ‘Festival Plaza'
Nikon D850 and D7500 presented with Red Dot Award: Product Design 2018
Japan's Masazo Nonaka Is Awarded Guinness World Records Title for Oldest Living ...
Skyline Mega Fitness Challenge Sparked Positivity and Happiness
MG Motor and Al Yousuf Motors Open New Dubai Showroom
Trend Alert from kate spade to help you pull off the cool girl look when you're ...
Accessories Collection 2018 Gentleman Attitude
Latifa bint Mohammed visits PCFC's stand at DIGAE, hails state-of-art initiatives
Sony unleashes refined creativity with the new FS5 II
Summertime Beauty Picks at Glambeaute.com
COLAB - Dry Shampoo
Get the best bargains at Dragon Mart's End of Season Clearance Market
ICBA, Dubai Carbon team up for sustainability projects
ORANGE & BERGAMOT Awaken the Cult Icon New Additions
Indie Film ‘Selfie' Premieres in Dubai
PCFC's stand at DIGAE sees heavy diplomatic footfall
ETIHAD AIRWAYS BOOSTS SERVICES TO MOROCCO
FOREO delivers the ultimate festival survival kit for a glow-on-the-go.
Dubai-based Al Kasir Group launches three Crypto assets backed by diamonds
Samsung launches Exciting Smartphone Trade-In Program with Galaxy S9 or S9+
Finnair to offer a hand baggage only ticket type on selected North Atlantic routes
GMIS Signs Memorandum of Understanding With Italian Pharmaceutical Leader Farmin...
Airbus and Zodiac Aerospace enter into a partnership for a new lower-deck passen...
International Property Show and Dubai Property Festival drive exclusive banks offers
HONEYWELL TO INSPIRE NEXT GENERATION OF PROGRAMMERS AND SCIENTISTS AT THINK SCIE...
Airbus launches new Cabin-Flex option for A380 with Qantas
New Blow Out Bar and Make-Up Studio SWISH by Immaclife Opens in Abu Dhabi in Apr...
A Royal Ramadan Experience by Master Chef Mama in Pullman Dubai Creek City Centre
Dubai Property Show and International Property Show kicks off 14th edition with ...
50-YEAR ANNIVERSARY OF A MATERNAL HEALTH BREAKTHROUGH
Ferrari World Abu Dhabi Takes Home MENALAC 2018 Best Theme Park Award
Final Dome Structure Completed at Barakah Nuclear Energy Plant
IIA conference a catalyst for UAE economy: Al Mansoori