Opportunities like this do not come around often. The last time there was an energy revolution in the UK on this scale was the exploitation of North Sea oil and gas in the 1970s. Until we crack nuclear fusion, there is unlikely to be another one.
Decisions made today will reverberate through the UK economy for decades, maybe even centuries, to come.
We are talking about hydrogen. The most abundant element in the universe is also an incredibly efficient energy carrier and can be produced from renewable energy with no greenhouse gas emissions.
It is revolutionising everything from transport to heavy industry and promises to restore the UK’s energy security at a time when the price of our dependence on hydrocarbons from unstable and dangerous third countries has never been clearer.
It is the only solution for decarbonising industries from steelmaking to petrochemicals, and aviation to maritime transport. Cars, buses, and heavy goods vehicles are already running on it, motorsport is embracing it and successful trials have shown that people can heat their homes and cook with it.
Countries around the world are developing their strategies to prepare for the coming deluge of opportunities arising from the advent of clean hydrogen, and the UK is among them, having launched its hydrogen strategy in October last year.
Among its plans are a target of 5 GW of hydrogen production capacity by 2030 and a decision by late 2023 on whether to allow hydrogen blending of 20% in the natural gas network. By 2026, it will decide whether 100% hydrogen can be used in homes throughout the country for heating and cooking.
These are all laudable goals, but we can do more. A lot more.
Our friends in Europe are aggressively developing their green hydrogen industries, with France targeting 6.5 GW of production by 2030 and Germany 10 GW. That’s not to mention what ‘s happening in other parts of the world, including Saudi Arabia, UAE, India, Morocco, Namibia, and Australia.
The UK’s hydrogen industry is eagerly awaiting details of the mechanism the government is going to employ to support clean hydrogen production. It’s an opportunity to show we are not just along for the ride, but driving the clean hydrogen revolution.
Labour MP Barry Gardiner recently wrote an impassioned plea for the UK to lead this exciting wave of opportunity, and we couldn’t agree more.
To learn more about Ryze Hydrogen click here.