Hydrogen: Why Now? What For?
For decades, hydrogen has played a subtle but integral role in society, supporting the oil & gas and chemicals industry and serving as a key input in everything from plastics to fertilizer. However, it has only been in recent years that hydrogen has been seriously considered as a decarbonization agent in industries like transportation and power. Why now? What has changed?
This paper focuses on applications of hydrogen technologies, including those that are mature and others currently under development. It provides insight into the basics of how these technologies function, how they are categorized, and their impact on decarbonization.
Making the Hydrogen Revolution a Reality
Explore the potential of clean hydrogen, from quick wins to long-term vision, as we work towards accelerating the transition to a net-zero future. More regulatory action, commercial projects, permitting reform, scalable production, and increased investment are needed to drive progress in this early stage of clean-hydrogen energy. Collaboration among stakeholders is essential for realizing the enormous potential of Earth’s lightest molecule.
The Inflation Reduction Act - Incentivizing the advancement of hydrogen and a decarbonized future
Now is the time to tap into hydrogen’s potential. A zero-carbon fuel source and long-duration storage, hydrogen is essential to deep decarbonization. However, cost-effectively deploying hydrogen at scale remains a critical challenge. Mitsubishi Power is collaborating with energy experts to develop and deploy hydrogen infrastructure across the Americas. It’s not about 2050, it’s about today.
Provides long-term financial incentives for the production of low-carbon energy
Provides long-term incentives for capital investment in clean energy infrastructure
Adds new tax incentives for clean energy production and investment, including hydrogen
Fundamentally transitions the tax code toward a technology-neutral approach to clean energy production and investment
From A to Zero, we can help you reach your decarbonization goals
Wherever you are on your net zero journey,
our hydrogen-ready solutions can help you chart your course toward a clean energy future
Enabling low-cost hydrogen
Green hydrogen is a cost-effective solution for long-duration energy storage. With the support of tax credits and incentives, increased deployment of utility-scale hydrogen production, and the ongoing addition of renewables, the cost of hydrogen will continue to decline. As a supporting member of the Green Hydrogen Coalition and EPRI’s Low Carbon Research Initiative to launch, Mitsubishi Power is working with key partners to deploy a low-cost green hydrogen ecosystem across the continent.
- Manufacturing volume effect. Applies to the scale of electrolysis, use of automated manufacturing
- Leads to lower prices for electricity to power electrolysis and supports more renewable integration
- Stored H2 also supports transportation, steel and concrete manufacturings
- Capital for hydrogen production distributed over multiple sectors
- ITC, PTC, carbon tax for investment
- Electric tariff and policy supporting hydrogen generation for cheap electricity
- Regional renewable policy
- Storage needs and summer/winter peaks needs
- Optimized renewables build and BESS, leading to overall optimized system across sectors
- Leads to overall, optimized system across sectors
- Turbine materials, combustor technology
- Improvement in electrolyzer efficiency
Reinforcing the safety of hydrogen
Hydrogen has a long history of safe use. According to the U.S. Department of Energy, many of hydrogen’s properties make it safer to handle than other commonly used fuels. Currently, there are over 1,700 miles of 100% hydrogen pipelines safely operating in major U.S. cities, such as Los Angeles, Salt Lake City, and Houston