By DARA BUTTERFIELD
Talking at a Thrive event in Glasgow last friday Dr Gen Cannibal, from Terrenus Environmental, spoke about how the hydrogen market is set to “explode” and could be worth $19 billion by 2050.
Terrenus Environmental is heavily involved in a proposed green hydrogen project that aims to produce tonnes of hydrogen each week having “zero to near zero carbon footprint”.Cannibal said:
“The hydrogen market is very underdeveloped in the UK compared with what it could be. At the moment we’re looking at I think about $300,000 in Scotland and a couple of million in the UK. They reckon it’s going to explode into about a billion in the UK, and 19 billion by 2050. This is as hydrogen moves into being used as a major fuel source.
“And the production of green hydrogen, we’re looking more like 6-7 pence per litre recently. So we’ve got a very very cheap fuel source when you’re comparing it to the petrochemical industry.
“There’s a lot of people now talking about improving the hydrogen economy, developing the hydrogen economy.
Cannibal talked about the proposed reduction in the solar Feed-in tariff and how that has made hydrogen from solar look more attractive; as the FiT decreases and hydrogen use increases he sees hydrogen from solar become a large industry.
He continued: “Now we are in a particular situation with hydrogen, people aren’t producing it in bulk to encourage the market, the market isn’t buying it in bulk to encourage the producers. So the position we’re in with the hydrogen economy at the moment is that we’ve got to try and resolve that.
“Aberdeen council is already diversifying into green energy, and they actually put a contract out specifically for green hydrogen, ie: hydrogen produced from non-petrochemical sources, renewable hydrogen. The contract was awarded and their supplier was Canadian, it is coming 5,300 km.
“The market exists, it’s just a matter of serving it.”