The Future of Green Hydrogen Production

Aug 4, 2023 | Ecolectro in the News

As the energy transition gains momentum, the search intensifies for more abundant, versatile and inexpensive sources of green power. While other renewables have solidified themselves as viable power sources, the clean energy spotlight has shone particularly bright on hydrogen as a solution because of its potential to become a widely-used, emission-free energy carrier compared to traditional fossil fuels. However, despite its promise, it is clear that in order for hydrogen to reach commercial viability, the industry is in critical need for scalable and cost-effective methods to produce it — which is why I am excited to announce Toyota Ventures’ investment in Ecolectro.

For the past 30 years, solar and wind have been the “darlings” of renewable energy, and widely viewed as backbones of the energy transition. Some of the accolades are well-deserved, given transformative advances in the technologies and resulting price declines that have made them cost-competitive with the cost of adding additional capacity to existing fossil fuel facilities. For instance, between 2010–2020, utility-scale solar photovoltaics (PV) experienced an impressive 85% decline in its levelized cost of electricity. However, while solar and wind have succeeded in checking the box on cost, they do not satisfy the criteria of being abundant, versatile, and energy dense

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Unleashing the Green Hydrogen Revolution