3 important things happening in hydrogen right now

illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Credits or enjoy below:

🗞️ Driving the news: The energy sector is actively preparing for a hydrogen-powered future with significant developments unfolding
• Duke Energy Corp. has announced the creation of a green hydrogen system at its Florida solar plant, First Hydrogen is demonstrating the potential of hydrogen in vehicles, and the US Department of Energy has highlighted the limitations of hydrogen blending in natural gas pipelines

🔭 The context: Duke Energy's initiative is the first in the nation capable of producing, storing, and using 100% green hydrogen in a combustion turbine 
• This project, expected to be operational by 2024, will use solar energy to power electrolyzers for hydrogen production
• First Hydrogen is showcasing its hydrogen fuel cell-powered commercial vehicles, which have demonstrated ranges exceeding 500 km

🌍 Why it matters for the planet: These advancements are critical for the decarbonization of various sectors in the US economy and for maintaining grid reliability amidst the growth of renewable energy sources
• The International Energy Agency underscores the need for policy support and investment to boost the adoption of low-carbon hydrogen production

⏭️ What's next: The industry anticipates the economic viability of green hydrogen-fueled power plants, with the global hydrogen market potentially reaching over $230 billion
• However, challenges such as the need for modifications in natural gas infrastructure to accommodate hydrogen blending must be addressed

💬 One quote: "The initiative reflects Duke Energy’s anticipation of hydrogen’s significant potential in achieving decarbonization across sectors of the US economy" (Duke Energy Corp)

📈 One stat: The International Energy Agency estimates that low-carbon hydrogen production could grow to 38 million metric tons per year by 2030

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