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Green Hydrogen: The Pathway to Net Zero

Hydrogen produced using renewable energy, or green hydrogen, is a vital technology in achieving net zero globally ...

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Hydrogen produced using renewable energy, or green hydrogen, is a vital technology in achieving net zero globally, particularly within hard-to-abate sectors that currently use hydrogen produced from fossil fuels as a key raw material. If these sectors were able to switch to hydrogen produced without emissions, the industrial sector would be able to achieve significant decreases in greenhouse gas emissions.

National investments are the key drivers behind green hydrogen development. To date, over 200 projects relating to hydrogen production and consumption have been announced around the world. Leading the number of projects is Europe, whose projects cover the entire hydrogen value chain, including midstream and downstream, and which aim to support the integrated hydrogen economy in the European Union and neighboring countries.

Declining of production cost in renewable energy and electrolyzer technology together with capacity factor and cost of capital are the main factors to increase competitiveness of green hydrogen market. This will help to reduce the price of green hydrogen from around 2.5 – 5.5 euros/kg to around 0.67 – 0.84 euros/kg by 2050.

Nevertheless, green hydrogen faces key challenges concerning high production costs, the development of technologies relating to storage and transport, and investments in infrastructure to support the growth in hydrogen use, including the concurrent higher demand for renewable energy to produce green hydrogen.

Thailand should prioritize the study and development of the hydrogen industry. Although it is not suitable at this stage to channel investments into the hydrogen industry due to the national context and level of readiness, this will be essential in supporting the development of an integrated energy transition plan, and for drawing lessons on clean energy development from other countries in terms of policy and technology. Doing so will create new business opportunities and increase Thailand’s competitiveness over the long term.

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