Governor Michelle Lujan Grisham on Tuesday announced the introduction of House Bill 4, the Hydrogen Hub Development Act,...
John Kerry: Hydrogen can be a multi-trillion-dollar global market
“Hydrogen alone can be a multi-trillion-dollar global market in the coming decades, and industry estimates that the US could build 700,000 jobs in the hydrogen economy just by 2030,” said John Kerry, Special Presidential Envoy for Climate, at the US Department of Energy’s Hydrogen Shot Summit on Tuesday (August 31).
An avid supporter of green technologies, and hydrogen in particular, Kerry believes that clean hydrogen can serve as a chemical feedstock for industrial processes to help push forward the US’ decarbonisation effort.
“President Biden sent a powerful signal that the US is reasserting its leadership on global climate action. The US is already doing its part. President Biden committed the US to slashing our own emissions by at least half in 2030.
“Still, more than 90% of all future emissions will come from outside our borders. That means that in addition to reducing emissions at home, our ability to tackle the climate crisis will require America to speed the global net zero transition.
“The highest leverage way that we have to do that is through innovation, driving down the cost of critical clean technologies that can be scaled up and deployed around the world.”
Whilst he recognised that more still has to be done, Kerry explained that he has already identified two ways in which the US can fast forward the hydrogen transition. On this, he said, “First, we must deploy available technologies; those that are already cost effective, such as wind and solar power. We must deploy those as fast as we can.
He continued, “Second, we must develop, demonstrate and scale up emerging clean energy technologies. Roughly 50% of the emissions reductions that we need for a net zero emission goal by 2050 has to come from technologies that are not yet ready for commercial markets. Hydrogen is one of those technologies.”
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