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26 Apr 2023

Econ Digest

Hydrogen technology… An alternative energy source to prepare for increased renewable energy

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        Hydrogen is an alternative energy to replace fossil fuels that emit greenhouse gases. It can be utilized in various sectors, such as industry, residential, transportation and electricity generation. Several countries have developed plans to deploy hydrogen and implement measures to attract more investment in hydrogen technology.

        One advantage of using hydrogen as a renewable energy source is that its combustion emits no carbon dioxide while generating high energy value per unit. Even though hydrogen combustion does not generate greenhouse gas, the hydrogen production process may result in indirect greenhouse gas emissions from the use of natural gas (grey hydrogen). One practical technology for adopting hydrogen is electrolysis, which uses electricity generated from renewable energy as an energy substrate to produce clean hydrogen (green hydrogen). Another potential adaptation is grey hydrogen produced with carbon capture, utilization and storage (CCUS) technology, turning to blue hydrogen.

        As for Thailand, initial business investment in hydrogen is likely to be made by large energy companies. The focus is to produce green and blue hydrogen for electricity generation and use at their companies within the same industrial estates. Plus, the hydrogen can be transformed to synthetic fuels for further use – no need to transport or process the hydrogen for use elsewhere. In order to compete with fossil fuels used in cars, the cost of hydrogen should not exceed USD5.88 per kg.

        KResearch believes that in order to use hydrogen as a clean energy to replace fossil fuels in the general business sector, further action needs to be taken to address multiple challenges while government support may be required. Meanwhile, private investment in the short and medium term should emphasize preparation for the production and use of renewable energy sufficient to meet cost-effective production and future demand for green hydrogen.

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