A recent McKinsey & Company study estimated the H2 Economy could generate $140 billion in annual revenue by 2030 and support 700,000 jobs. The study projected that hydrogen could meet 14 percent of total energy demand by 2050.
Japan, the world’s largest LNG purchaser, plans to move to Zero Carbon Emissions in 30 Years and hydrogen is a big part of their plans. Japan could lay the groundwork for a global H2 supply chain much as they pioneered LNG in the 1970s
Japan published a preliminary road map that called for hydrogen and related fuels to supply 10% of the power for electricity generation—from virtually zero now—as well as a significant portion of the energy for other uses like shipping or steel manufacture by 2050.
Japan’s biggest power company, JERA Co., is planning to reduce carbon emissions by mixing the hydrogen compound ammonia into its coal-fired plants, and in May signed a memorandum of understanding with one of the world’s biggest ammonia manufacturers to develop supply.