On May 17, 2021, the International Energy Agency published its report Net Zero by 2050 . The report states that reaching the target of net-zero emissions by 2050 will require rapid deployment of technologies that are market-ready today. However, it also states that almost half of the reductions in 2050 scenarios are likely to be availed through technologies that are currently only at demonstration or prototype stages. The biggest innovations are expected to emerge from advanced batteries, hydrogen electrolyzers, and direct air capture and storage. By increasing R&D spending on critical areas of hydrogen; bioenergy; and carbon capture, utilization, and storage (CCUS), governments can have a major role in supporting these innovations. Currently, these fields receive only around one-third of public R&D funding compared to more established technologies.
Hydrogen and Hydrogen-Based Fuels in the Net-Zero Emissions Roadmap
According to the roadmap, the initial focus relating to hydrogen and hydrogen-based fuels will include the conversion of existing fossil fuel energy to low carbon hydrogen without requiring new transmission and distribution infrastructure. It is also expected that there will be an increased use of hydrogen in industries […]