Why green hydrogen?
The dual fossil fuel crisis
The climate crisis
Fossil fuels have remained unchallenged until now, maintaining a hold on 80% of the global energy mix (the same as in 1990), despite decades of climate conferences, causing a relentless growth of carbon emissions.
The energy crisis
As fossil fuel companies feel the pressure of governments and investors, collapsing exploration and production investment is constraining supply and leading to massively and durably higher prices, threatening consumers and businesses.
When solar takes over
Solar is now the cheapest form of power generation (as low as 10 €/MWh in tenders in Europe and the Middle East) and the largest source of new power capacity globally, with 175 GW installed in 2021.
Cumulative photovoltaic capacities are expanding at a rate in excess of 20%. If this rate is sustained, and solar electrons can be converted into molecules (hydrogen), solar could represent 80% of global energy in 2040 (covering just 0.2% of the earth’s surface), effectively ending the use of fossil fuels.
