Factors affecting the economy of green hydrogen production pathways for sustainable development and their challenges

Abstract

In a hydrogen economy, the primary energy source for industry, transportation, and power production is hydrogen gas. Green hydrogen can be generated and utilized in an environmentally friendly and sustainable manner; it seeks to displace fossil fuels. Finding a clean alternative energy source is becoming more crucial due to the depletion of fossil fuels and the major environmental pollution issues they bring when utilized extensively. The paper's objective is to analyze the factors affecting the economy of green hydrogen production pathways for sustainable development to decarbonize the world and the associated challenges faced in terms of technological, social, infrastructure, and people's perceptions while adopting green hydrogen. To achieve this, the research looked at a variety of areas relevant to green hydrogen, such as production techniques, industry applications, benefits for society and the environment, and challenges that need to be overcome before the technology is widely used. The most recent methods of producing hydrogen from fossil fuels, such as steam methane, partial oxidation, autothermal, and plasma reforming, as well as renewable energy sources including biomass and thermochemical reactions and water splitting. Grey hydrogen is now the least expensive type of hydrogen, but, in the future, green hydrogen's levelized cost of hydrogen (LCOH) is expected to be less than $2 per kilogram of hydrogen.

Keywords: Cost comparison; Hydrogen demand; Hydrogen economy; Hydrogen policies; Hydrogen utilization; Renewable hydrogen; Sustainable production; Types of hydrogen.