As we venture into the second decade of the energy transition, cleaner technologies such as renewable energy and electric vehicles have taken the lead in the race towards decarbonization. However, there are sectors within the economy facing challenges in embracing this energy shift. One element that could prove pivotal for these hard-to-reach segments is green hydrogen.
The latest assessment of the World Economic Forum’s Energy Transition Index reveals that over 95% of countries have improved their scores, thanks to investments in clean energy and more stringent regulatory frameworks. Despite these achievements, the energy transition extends beyond decarbonizing power generation, necessitating a comprehensive transformation of the energy system to be more efficient and innovative. Green hydrogen, as a carbon-free energy source, holds distinct advantages over renewable sources: it can be transported over long distances, stored for extended periods, and seamlessly integrated into existing infrastructures designed for fossil fuels.
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