New Delhi: Produced by using renewably generated electricity that splits water molecules into hydrogen and oxygen, green hydrogen holds significant promise to help meet global energy demand while contributing to climate action goals, Renewable energy firm Arham Energy said.
“Hydrogen can enable renewables to provide an even greater contribution. It has the potential to help with variable output from renewables, like solar photovoltaics (PV) and wind, whose availability is not always well matched with demand,” it said.
Hydrogen is one of the important and leading options for storing energy from renewables and looks promising to be a lowest-cost option for storing electricity over days, weeks or even months. Hydrogen and hydrogen-based fuels can transport energy from renewables over long distances – from regions with abundant solar and wind resources.
Arham Energy projects ‘Hydrojinn’ and ‘Grovenergy’ aim to use clean fuel like hydrogen and alcohol, and ‘Evolta’ aims to improve the infrastructure of ‘battery storage’ through technological support, research development, and collaboration with other partners.
The company has joined hands with the PM’s initiative of achieving Net zero by 2070 and is in the midst of launching many projects in that direction.
“Hydrogen is today enjoying unprecedented momentum. The world should not miss this unique chance to make hydrogen an essential part of our clean and secure energy future. Moreover, the world needs pioneers who are willing to take the lead and bear the cost of “first movers” for hydrogen energy, just like Germany did for solar photovoltaic technology,” said V.M Jain, Chairman And Managing Director, Arham Energy Limited (Flagship of Arham Group).
According to the company, the shift to hydrogen can fetch positive results in terms of reduced emissions, reduced dependence on imported fuel and therefore a reduced financial and ecological burden.
Globally, hydrogen energy has gained much needed attention as a means to achieve NetZero targets and to fulfill increasing energy demands.
The Covid-19 pandemic, dwindling economies due to the Russia-Ukraine conflict, fear of economic recession and disrupted supply chains pose serious threats to various measures to reduce emissions. It is disheartening to see that countries have witnessed short-term shift towards coal again which can affect climate mitigation policies and programmes.
India is using hydrogen as fuel and feedstock in various sectors, but a major shift towards hydrogen in refining petroleum, ammonia industry, power sector, feedstock for methanol production, steel, long haul freight and heavy-duty vehicles is needed to remain in the race to reach net-zero targets.
As per the PM Modi vision, India is set to achieve renewable energy capacity of 500 GW by 2030. With the current installed total renewable energy capacity of 118 GW, it already has one of the most competitive solar and wind tariffs in the world. Besides, the domestic electrolyzer sector is projected to reach approximately $5 billion by 2030 and $31 billion by 2050.
“The introduction of the Green Hydrogen Policy is a welcome endorsement of India’s commitment on climate action. The policy contains many enabling provisions, such as the waiver of inter-state transmission charges for green hydrogen projects and a single window for all statutory clearances and permissions required for manufacture of hydrogen, transportation, storage in bunkers near ports, and distribution. It is likely to improve the near-term economics of green hydrogen production and shape its demand outlook in the country,” Jain said.
“To spur the development of a competitive market for green hydrogen, however, there is a need to move beyond the “specific strategy for the short term and broad strokes principles for long term,” he added.