How many times and for how long have we heard about ‘the hydrogen economy’? Broadly defined, the hydrogen economy is an almost fanciful concept where we all drive around fuel cell electric passenger vehicles while heating our homes from electrolytic hydrogen piped to us from the lowest-cost renewable assets in the world.
However, many of these concepts act as a red herring and feed the naysayers at the expense of the real-world technology and innovation that is required to leverage the universe’s most abundant molecule in reaching out net-zero goals. At Jericho Energy Ventures, we believe in the power of hydrogen, grounded in real-world efficiencies and economics, to propel our energy systems, mobility, and industrial processes towards decarbonisation.
Most arguments against clean hydrogen begin with inefficient and end with expensive. And we agree – the price of clean hydrogen production alone (whether blue, turquoise or green, pick a color) is anywhere from 3-6 times as expensive as more polluting alternatives. Add on to that, the tiny molecule is hard store, transport and difficult to consume or utilise.