There are over 60 million metric tons of hydrogen generated every year valued at over $100 billion dollars.
Today, 80% of the hydrogen we produce is for three main industries: refineries, ammonia production or metal processing. Over 95% of the hydrogen produced is made from a fossil fuel, primarily natural gas, through a process called steam reforming, which emits harmful carbon emissions into the atmosphere. Clean renewable hydrogen must be the goal.
The growth of the hydrogen market and the realization of a “hydrogen economy” will be driven by its ability to be converted into electric energy by fuel cells for transportation, power for homes and businesses, and any practical use of electricity. According to the Hydrogen Council, a conglomerate of energy, transportation, and industry leading companies, the demand for hydrogen could increase tenfold by 2050-from 8EJ in 2015 to almost 80 EJ in 2050 driving the market to over a trillion US dollars.
California and Japan are leading the way for a hydrogen vision with thousands of cars, trucks, and homes being powered by hydrogen fuel cells. There are already thousands of fuel cell vehicles (FCV’s) on the road manufactured by Honda, Toyota, Hyundai, Mercedes, and others. California leads the way with over 6,000 FCV’s on the road with the goal of over 1,000,000 FCV’s and 1000 stations by 2030. Japan has set forth a strategy to power 30% of its homes by deploying 5.3 million home fuel cells by 2030. The independence from the electric grid these fuel cells provide moves Japan towards a self-sustaining energy future. HyperSolar, producing economical renewable hydrogen at or near the point of distribution will play a major part as the vision becomes a reality.