Whilst a languishing world economy needs low energy costs, when the predominate energy source is fossil fuels the chance of transformation to an alternative looks distant. Heartening is the continued push for alternatives. These alternative are at the production end (i.e. wind, solar, hydro, tidal, geothermal) and the storage point in the value chain. For road transportation, aviation and shipping electric energy storage has is detractions. A hydrogen economy seems one viable alternative.
For a an overview of Hydrogen Energy - see here
For a quick story on the potential - this might be of interest
Peak oil or not, the results of fossil fuel combustion is particulates and a mix of poisonous gases. The result of burning hydrogen is a fairly straight forward reaction:
2H2 + O2 → 2H2O
To get energy stored in the form of Hydrogen is an energy intensive process in itself. This is why the development of renewable inputs to our energy value chain are necessary. Remove fossil fuel from energy production, remove fossil fuel from energy storage and transportation - do it at an economic point of equivalence, and then we have a future.
So back to the start of the dialog. Whilst the world economy is benefiting from low fossil fuel energy costs, the point of equivalence for renewables and the Hydrogen economy is a big stretch. If our investments in renewables drive us to this cost point then a jump in fuel price should make it a no brainer. I’m very happy to see that investments continue in the Hydrogen economy. One day as fossil fuel pushes up in price we may see a rapid transition.
