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Green power is losing the battle to clean up hydrogen

Economic Times LogoEconomic Times7h ago

Green power is losing the battle to clean up hydrogen - Economic Times

Quick Summary:

Clean energy is lagging behind fossil fuels in industrial sectors, with the cost of green hydrogen proving a significant roadblock.

Far from falling from levels of around $3 per kilogram to the US government’s target of $1/kg — a price at which it might be able to undercut natural gas — costs in the US have increased to nearly $5/kg, according to a study last year by the Hydrogen Council and McKinsey & Co.

Engineering work is done and site preparation is already underway for Saudi Arabian Oil Co.’s first carbon-capture project, Chief Executive Officer Amin Nasser told an investor call last week, and the company is expecting to receive bids from Japanese and Korean buyers within months.


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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-16 @ 10:28:38 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1625 words

Reading Time: 10 minutes read

Sentences: 48 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 22094925

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About Economic Times

Economic Times Logo

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 2 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 6 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #84

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