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Mahesh

30/06/22 13:50 PM IST

Green Hydrogen

In News 
  • A new report released by NITI Aayog highlights that green hydrogen can substantially spur industrial decarbonisation and economic growth for India in the coming decades.
Major Highlights 
  • Harnessing Green Hydrogen: Opportunities for Deep Decarbonisation in India provides apathway to accelerate the emergence of a green hydrogen economy, which is critical for India to achieve its net-zero ambitions by 2070.
  • Green hydrogen—produced by renewable energy through electrolysis of water—will be crucial for achieving decarbonisation of harder-to-abate sectors such as, fertilisers, refining, methanol, maritime shipping, iron & steel and transport.
  • It further states that with emerging global momentum on hydrogen, India can situate this decarbonisation opportunity not just within the context of a low-carbon economy but also as an enabler of energy security and economic development for the nation.
  •  India can emerge as the least cost producer and bring down the price of green hydrogen to US$ 1 per kg by 2030.
  • India’s distinct advantage in low-cost renewable electricity means thatgreen hydrogenwill emerge as the most cost-effective form.
  • The report concludes that hydrogen demand in India could grow more than fourfold by 2050, representing almost 10% of global demand.
  • Given that the majority of this demand could be met with green hydrogen in the longterm, the cumulative value of the green hydrogen market in India could reach US $8 billion by 2030.
Benefits of Green Hydrogen 
  • Near-term policy measurescan bring down the current costs of green hydrogen to make it competitive with the existinggrey hydrogen (hydrogen produced by natural gas) prices. 
  • Government can encourage near term market development by identifying industrial clusters and enacting associated viability gap funding, mandatesand targets.
  • Opportunities around research and development and manufacturing of components like electrolysers need to be identified and appropriately encouraged with adequate financial mechanisms such as production-linked incentive (PLI) schemesto enable 25 GW ofmanufacturing capacity of electrolysers by 2028.
  • A globally competitive green hydrogen industry can lead to exports in green hydrogen and hydrogen-embedded low-carbon products like green ammonia and green steelthat can unlock 95 GW of electrolysis capacity in the nation by 2030.
Source- PIB 

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