Earlier this month the road map to a US Hydrogen Economy was formally launched to showcase how the states can expand its global energy leadership.
Launched by a coalition of major oil & gas, power, automotive, fuel cell and hydrogen companies, the road map stresses the versatility of hydrogen as an enabler of the renewable energy system.
Without a doubt, the US is already immersed in the world of hydrogen. At present, it boasts more than half of the world’s fuel cell vehicles, 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW or large-scale fuel cell power installed or planned.
But as the roadmap lays out, there is still a long way to go and if the right actions are taken now, a competitive hydrogen industry can meet 14% of US energy demand by 2050.
The roadmap outlines five major segments of the economy where hydrogen can play a part in this transition – including transportation, power generation and grid balancing, fuel for industry, feed stock and fuel for residential and commercial buildings.
Commenting on the launch, Morry Markowtiz, FCHEA President, said, “This Road Map shows how critically important hydrogen is to achieve a lower-carbon energy mix, and with the right actions now, can reinforce US energy leadership and strengthen our economy by generating $140bn per year in revenue and 700,000 jobs by 2030, and $750bn per year in revenue and 3.4 million jobs by 2050.”
“Clearly the US is a major player, but to remain dominant, and meet future energy challenges, the US has to raise its game with further investments and public policies that reduce regulatory barriers, promote research, development, and deployment, and reward innovation.”