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‘Hobbled by High Cost, Hydrogen Fuel Cells Will Be a Modest $3 Billion Market in 2030;
Study: ‘Hobbled by High Cost, Hydrogen Fuel Cells Will Be a Modest $3 Billion Market in 2030?
By Joe Romm on Apr 5, 2013 at 12:23 pm
Capital cost, not hydrogen supply, will limit adoption to a mere 5.9 GW, dashing dreams of a revolutionary energy future, says Lux Research
As I’ve said for a decade now, hydrogen fuel cells are not going to be a significant, cost-effective CO2 reducer. In a 2005 journal article, “The car and fuel of the future,” I noted that:
A 2013 study by independent research and advisory firm Lux Research finds that despite billions in research and development spent in the past decade, “The dream of a hydrogen economy envisioned for decades by politicians, economists, and environmentalists is no nearer, with hydrogen fuel cells turning a modest $3 billion market of about 5.9 GW in 2030.”
Hydrogen fuel cells won’t be a major contributor to solving the problem of manmade climate change until the market is 100 times larger, which simply won’t happen fast enough to matter to the climate fight, even in the unlikely event they ever become a cost-effective CO2 reducer.
The Lux study, “The Great Compression: The Future of the Hydrogen Economy” (client subs. req’d), finds that “hydrogen demand from fuel cells will total 140 million kg in 2030, a meager 0.56% of global hydrogen demand.” Looks like I’m going to win my big hydrogen bet!
Here’s the rest of the news release from Lux:
Go to: http://thinkprogress.org/climate/2013/04/05/1422411/study-hobbled-by-high-cost-hydrogen-fuel-cells-will-be-a-modest-3-billion-market-in-2030/
By Joe Romm on Apr 5, 2013 at 12:23 pm
Capital cost, not hydrogen supply, will limit adoption to a mere 5.9 GW, dashing dreams of a revolutionary energy future, says Lux Research
As I’ve said for a decade now, hydrogen fuel cells are not going to be a significant, cost-effective CO2 reducer. In a 2005 journal article, “The car and fuel of the future,” I noted that:
Using fuel cell vehicles and hydrogen from zero-carbon sources such as renewable power or nuclear energy has a cost of avoided carbon dioxide of more than $600 a metric ton, which is more than a factor of ten higher than most other strategies being considered today….
A 2013 study by independent research and advisory firm Lux Research finds that despite billions in research and development spent in the past decade, “The dream of a hydrogen economy envisioned for decades by politicians, economists, and environmentalists is no nearer, with hydrogen fuel cells turning a modest $3 billion market of about 5.9 GW in 2030.”
Hydrogen fuel cells won’t be a major contributor to solving the problem of manmade climate change until the market is 100 times larger, which simply won’t happen fast enough to matter to the climate fight, even in the unlikely event they ever become a cost-effective CO2 reducer.
The Lux study, “The Great Compression: The Future of the Hydrogen Economy” (client subs. req’d), finds that “hydrogen demand from fuel cells will total 140 million kg in 2030, a meager 0.56% of global hydrogen demand.” Looks like I’m going to win my big hydrogen bet!
Here’s the rest of the news release from Lux:
Go to: http://thinkprogress.org/climate/2013/04/05/1422411/study-hobbled-by-high-cost-hydrogen-fuel-cells-will-be-a-modest-3-billion-market-in-2030/
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