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New Delhi, India's top oil firm IOC on Monday unveiled the nation's first <keyword id="18906554" type="General" weightage="20" keywordseo="green-hydrogen-powered-bus" source="Orion">green hydrogen-powered bus</keyword> that emits just water as it takes the lead in bringing out unrivaled tools to replace fossil fuels. Indian Oil Corporation (IOC) will produce close to 75 kg of hydrogen by splitting water using electricity from renewable sources. This hydrogen will be used to power two buses which will ply across the national capital region for trial runs. Oil Minister Hardeep Singh Puri, flagging off the buses, said hydrogen will be India's transition fuel for moving away from fossil fuels. IOC's R&amp;D Centre at Faridabad is producing green hydrogen for the pilot run. Four cylinders with a capacity of 30 kg can run the buses for 350 km. It takes 10-12 minutes for the four tanks to fill. Hydrogen when burnt emits only water vapour as a by-product. With three times the energy density and the absence of harmful emissions, hydrogen shines as a cleaner, more efficient choice to meet the energy requirement. As much as 50 units of renewable electricity and 9 kg of deionized water are needed for the production of one kilo of green hydrogen. Hydrogen can be used as a fuel for fuel cells. Puri said by the end of 2023, IOC will scale up the number of buses to 15. IOC will undertake operational trials of 15 fuel cell buses powered by green hydrogen on the identified routes in Delhi, Haryana, and UP. Under this programme, the first set of 2 fuel cell buses was launched on Monday. "Our government has ambitious plans on clean and green energy. India has taken many steps towards low carbon development- through emerging fuels like hydrogen and bio-fuels and shall account for 25 per cent of global incremental energy demand growth over the next two decades," Puri said. Upon the launch of the two buses, a cumulative mileage of more than 3 lakh kilometers will be covered for long-term assessment of performance and durability of the new technology. India has one of the largest synchronous grids in the world, capable of handling intermittent renewable energy and it has achieved 'One Nation-One Grid-One Frequency'. "With the low cost solar, synchronous grid, large demand and engineering, India will be a global champion in production and exports of hydrogen and is set to emerge as the hub for green hydrogen," he said. Puri said recently the world's first BS 6 (Stage II) Electrified Flex Fuel vehicle prototype was launched that encompasses both the flex fuel engine as well as an electric powertrain that offers higher use of ethanol combined with better fuel efficiencies. Hydrogen is deemed as the fuel for the future with immense potential to help India meet its decarbonization targets. The global demand for hydrogen is expected to increase by four to seven times to 500-800 tonne by 2050. Domestic demand is expected to increase by four times, from the current 6 tonne at present to 25-28 tonne by 2050. Oil and gas PSUs shall produce around 1 million tonne per annum of green hydrogen by 2030. "This green <keyword id="14355451" type="General" weightage="20" keywordseo="hydrogen-powered-bus" source="Orion">hydrogen-powered bus</keyword> is going to transform the face of city transport in the country. I shall be closely monitoring the project and wish you all the very best for successfully executing this project of national importance," he added. "The success of this project can catapult India from being a net importer of fossil energy to becoming a net exporter of clean hydrogen energy; and provide global leadership to other countries in terms of technology transfer while becoming a large green hydrogen producer and supplier of manufacturing parts."

IndianOil unveils India's first green hydrogen-run bus that emits just water

One thing that the entire country is worried about today is rising fuel prices that are burning a hole in our pockets. <div type="image" title="Simpson meme" msid="91155009" hostid="261"></div> The price of crude oil, which is used to make petrol and diesel, shot up after Russia – one of the major oil-producing countries – went onto the battlefield with Ukraine. India currently imports <a href="https://www.businessinsider.in/finance/news/crude-oil-surges-significantly-to-109-per-barrel-as-countries-look-for-options-other-than-russia/articleshow/89936843.cms">85% of its oil demand </a>and the rise in crude oil prices directly increases import bill and expenses. And crude oil prices have increased more than 50% in the last one year <a href="https://www.businessinsider.in/finance/news/crude-oil-surges-significantly-to-109-per-barrel-as-countries-look-for-options-other-than-russia/articleshow/89936843.cms">to $100 from $60 a year </a>ago. This ever-increasing demand for fuel and dependency on imported crude oil for domestic needs has made us wonder if there's an alternative solution to this problem. Yes, there is! <keyword id="169046" type="General" weightage="100" keywordseo="hydrogen" source="Orion">Hydrogen</keyword>. What is hydrogen and can it be used as a fuel? Hydrogen is a <keyword id="154273" type="General" weightage="20" keywordseo="clean-energy" source="Orion">clean energy</keyword> alternative and can be made directly from fossil fuels or biomass, or it can be produced by passing electricity through water. <keyword id="8411893" type="General" weightage="80" keywordseo="green-hydrogen" source="Orion">Green hydrogen</keyword> (GH2) can be generated by breaking water (H20) into hydrogen and oxygen through the electrolysis of water. An electrical current is used to separate hydrogen from oxygen in water and it is extracted without generating any net carbon emissions. This also means that the energy created from hydrogen does not release toxic carbon dioxide, which makes it one of many potential energy sources that could help reduce carbon emissions and slow global warming. <div type="image" title="The process of producing Green Hydrogen" msid="91155052" hostid="261"></div> This green fuel can be utilised as a source of energy in transport, electricity production, and industry activity. It can power anything that uses electricity including electric vehicles and electronic devices. It can also be used as a <a href="https://telanganatoday.com/what-exactly-is-green-hydrogen-and-will-it-be-the-fuel-of-the-future">substitute </a>for natural gas for cooking and heating within homes. If the electricity needed for electrolysis is generated from renewable sources such as solar or wind, the production of green hydrogen does not emit any harmful gases unlike coal and oil. It only emits water vapour. Hydrogen is also the most <a href="https://www.precedenceresearch.com/green-hydrogen-market">abundant </a>element on the planet and offers tremendous promise for innovation. Hence, this is the most eco-friendly way of producing fuel. This is why different countries are rushing to include green hydrogen in their clean energy initiatives. Government bodies around the world have been investing time and money for research into this sustainable source of energy. And India has also taken some steps towards clean energy. According to market research and consulting organisation Precedence <a href="https://www.precedenceresearch.com/green-hydrogen-market">Research</a>, the global green hydrogen market was valued at $1.83 billion in 2021 and is expected to hit over US $89.18 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 54% from 2021 to 2030. The report goes on to say that the Asia-Pacific region is the <a href="https://www.globenewswire.com/news-release/2022/01/11/2364715/0/en/Green-Hydrogen-Market-Size-to-Surpass-US-89-18-Bn-by-2030.html">fastest </a>growing region in the green hydrogen market. <div type="image" title="Growth expectation for global hydrogen market" msid="91155036" hostid="261"></div> Not to forget, Prime Minister Narendra Modi had announced the <a href="https://www.business-standard.com/article/economy-policy/india-can-be-global-hub-of-green-hydrogen-says-pm-narendra-modi-122030401489_1.html">Green </a>Hydrogen Policy and this target of becoming net zero carbon emission by 2070, earlier this year, with the goal of making India a "green hydrogen hub," or a prominent producer and exporter of "green hydrogen." The government policy is aimed at boosting green hydrogen production in the country, which can also reduce India’s dependence on importing over 80% of the oil and gas requirements. The policy focuses on increasing dependency on cleaner forms of energy and abandoning fossil fuels. The policy says green hydrogen and green ammonia is one of the major requirements for reduction of emissions. The government believes hydrogen can play a huge role in shifting to clean energy. It allows companies to easily set up the capacity to generate electricity from renewable sources such as solar or wind anywhere in the country. The government is also planning to bring a production-linked incentive (PLI) scheme for manufacturing electrolysers for producing green hydrogen. Large companies like <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited (RIL), Adani Group, Larsen &amp; Toubro (L&amp;T) with multiple factories that release several forms of chemicals in some way or another will take advantage of the policy. In fact, they have laid out a roadmap already to enter the green hydrogen market. Huge conglomerates like RIL have their own emission target of achieving net zero carbon emissions by 2035. In June 2021, RIL had also said that it is planning to invest <a href="https://www.forbes.com/sites/yessarrosendar/2022/01/14/indian-billionaire-mukesh-ambanis-reliance-industries-to-invest-80-billion-in-renewable-energy-push/?sh=57ca8f7d7a2f">$10 billion</a> in <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword>. To help make Gujarat net-zero carbon, Reliance proposes to invest $67.4 billion in the state over 10 to 15 years to set up a 100 gigawatt renewable energy power plant and green hydrogen ecosystem development. <ul><li>Reliance Industries has announced to produce green hydrogen and also make an electrolyser factory to manufacture green energy.</li><li>Larsen &amp; Toubro announced plans to manufacture hydrogen electrolysers in India. Recently, it entered into a pact with the Indian Institute of Technology (IIT), Bombay to carry out a joint research and develop the green hydrogen technology.</li><li>Indian Oil Corp, one of the largest fossil fuel retailers, also announced its plans to build a green hydrogen plant at its Mathura refinery in Uttar Pradesh.</li><li>GAIL plans to build India's largest green hydrogen-making plant as it looks to supplement its natural gas business with carbon-free fuel.</li><li>NTPC also plans to produce green hydrogen.</li></ul>The policy allows 25 years of free inter-state power transmission for any new renewable energy plants that produce green hydrogen for projects commissioned before June 30, 2025. This means that a green hydrogen producer will be able to set up a solar power plant and supply in states and not pay any inter-state transmission charges. Currently, green hydrogen technology is still at the stage of emergence. The country has to overcome a few barriers such as price, storage, and logistics, to ensure a smooth transition towards the green hydrogen ecosystem. Here’s an explainer video about everything green hydrogen, challenges that the world currently faces to store GH2, positives from India's <keyword id="13040691" type="General" weightage="50" keywordseo="green-hydrogen-policy" source="Orion">Green Hydrogen policy</keyword> and five stocks that will benefit from it. <div type="image" title="Everything green hydrogen" msid="91155096" hostid="261"></div>

SIMPLY PUT: Everything you need to know about green hydrogen and India’s new policy around it

<ul class="summary-list"><li><keyword id="11949096" type="UNKNOWN" weightage="60" keywordseo="plug-power" source="Orion">Plug Power</keyword> climbed as much as 10% early Tuesday after the company announced a supply pact with <keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword>.</li><li>The company will provide Walmart up to 20 tons of liquid green hydrogen per day to power its US fleet of material handling lift trucks.</li></ul><a href="https://markets.businessinsider.com/stocks/plug-stock">Plug Power stock</a> jumped as must as 10% Tuesday after the company announced a deal to provide <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart</a> up to 20 tons per day of liquid green hydrogen.The hydrogen will power the retail giant's material handling lift trucks, such as forklifts, and comes as Walmart looks to make good on promises to invest in <a href="https://corporate.walmart.com/newsroom/2021/04/29/setting-records-walmart-continues-moving-toward-becoming-a-totally-renewable-business">zero-carbon emission energy sources</a>."Our <keyword id="12011391" type="UNKNOWN" weightage="60" keywordseo="green-energy" source="Orion">green energy</keyword> solutions will provide Walmart with the ability to achieve significant carbon reduction," said Plug Power CEO Andy Marsh in a press release. "We are honored to expand our relationship with Walmart and realize our shared vision for for a green hydrogen future."Plug says it will deliver the hydrogen with its liquid transport fleet made possible by a recent acquisition of <a href="https://www.ir.plugpower.com/Press-Releases/Press-Release-Details/2021/Plug-Power-Completes-Acquisition-of-Applied-Cryo-Technologies/default.aspx">Applied Cryo Technologies.</a>The two companies first joined forces in 2o12, when Plug Power began providing hydrogen fuel cells for Walmart facilities and vehicles. Tuesday's deal is one of Plug Power's first contracts to supply green hydrogen itself. Plug Power stock pared gains to 6%. Shares spiked earlier this year as rising oil prices and the Russia's invasion of Ukraine spurred interest in green <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> stocks. But the stock has since come off its high and is down 9% so far in 2022.

Plug Power stock jumps 10% on deal to provide Walmart with hydrogen

Billionaire Mukesh <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>'s <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Ltd will commission a new energy <keyword id="20278828" type="General" weightage="20" keywordseo="giga-complex" source="Orion">giga complex</keyword> in <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> in the second half of 2024, the company said in an earnings statement and investor call. <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> is building a giga complex spread over 5,000 acres in <keyword id="6361405" type="General" weightage="20" keywordseo="jamnagar" source="Orion">Jamnagar</keyword> in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. "On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors. Post announcement of third-quarter earnings on Friday, Ambani stated that the "New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New <keyword id="679565" type="General" weightage="20" keywordseo="energy-business" source="Orion">Energy business</keyword> will play a pivotal role in the global movement for adoption of cleaner fuels." The Dhirubhai Ambani Green Energy Giga Complex will be among the largest integrated renewable energy manufacturing facilities in the world. Reliance has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power at Rs 5 lakh crore capex. It has received in-principle approval for 74,750 hectares (ha.) of land parcels in Kutch for green hydrogen. The firm has strategically invested in ten global technology innovators with strong expertise across the new energy value chain. "Reliance is nearing the commissioning of the first tranche of 5GW module manufacturing capacity in mid-CY24," Nuvama said in a January 17 note. It has via REC Solar signed a supply agreement with China-based Suzhou Maxwell Technologies to buy a high efficiency production line for HJT cells (4.8GW capacity). It signed a 5.2GW HJT module automation production agreement with China-based SC Solar in January 2023. It won PLIs under both rounds of solar modules PLI (Round 1: USD 0.3 billion, 4GW; Round 2: USD 0.4 billion, 6GW). Reliance (apart from Greenko) is the only company to win incentives for both green hydrogen and electrolysers concluded recently. It won incentives of USD 0.3 per kg for electrolyser capacity of 300MW and USD 0.23 for green hydrogen capacity of 90,000 tonnes. Besides, it has won PLI under ACC battery storage for 5GW capacity. "These incentives are likely to assist Reliance achieve a green hydrogen cost of USD 1' 1.5 per kg," Nuvama said. Given <keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword> is the largest producer and consumer of grey hydrogen, transition to green hydrogen shall enable it to improve margins ahead, it said. The current green hydrogen cost hovers USD 3 per kg, which remains 1.5x compared to grey hydrogen produced using natural gas due to the high cost of generating solar/wind energy as well as high electrolyser cost. Presently, a hybrid of solar and wind remains the cheapest source of generating green hydrogen. The cost for solar remains the highest due to low PLF of electrolysers at 30' 35 per cent versus wind at 65' 70 per cent, and for hybrid 70' 75 per cent.

Reliance to commission new energy giga complex this year

<ul class="summary-list"><li>Hydrogen gas is a common industrial input, used to make ammonia, steel, and other commodities.</li><li>Most of it today comes from fossil fuels. But the rise of renewable energy sources like solar and wind is ushering in an era of "green hydrogen," which promises to help the industry use less carbon.</li><li>Hydrogen can also be used to produce clean fuel for cars and homes and as a way to store renewable energy on the grid.</li><li>While the technology has a history of false starts, experts say they think this time it will stick. Here's everything you need to know about the booming hydrogen industry.</li><li><a href="https://www.businessinsider.com/prime">Click here for more BI Prime articles</a>.</li></ul>Perched in the top left corner of the periodic table is the world's lightest element: <a href="https://periodic.lanl.gov/1.shtml">hydrogen</a>. It's also the most abundant, making up about three-quarters of all mass in the universe.Hydrogen's prevalence and properties have made it one of the most commercially important elements on the planet.We've long used hydrogen to power lamps and combustion engines, and to make blimps float. You've probably heard of the Hindenburg, the German zeppelin that exploded in 1937 when the flammable gas combusted.In more modern times, hydrogen is better known as an industrial feedstock. It's a key building block of chemicals like ammonia, and it's used widely in the refining business.But hydrogen has promised to do so much more.It can be used to produce clean energy, typically producing only water as a byproduct. That is what propelled the gas to prominence in the 1970s, following petroleum shortages and growing pollution concerns, according to the International Energy Agency.<a href="http://newsletter.businessinsider.com/join/4np/power-line">Click here to subscribe to Power Line</a>, Business Insider's weekly clean-energy newsletter.But hydrogen-based fuels failed to take off then - as well as a few times since, such as in the early 2000s, when hydrogen-powered cars seemed poised to become the next big thing. Each time, the public's interest in hydrogen waned when <a href="https://www.iea.org/reports/the-future-of-hydrogen">oil became cheaper and more available</a>, the IEA says.Now global interest in hydrogen is cresting once again - and not just in fuel cells but in the promise of "green hydrogen," which could help reduce emissions from carbon-intensive industries. This time, analysts and industry experts think it will stick.The hydrogen market, worth an estimated $145 billion, is growing at a rate of 25%, according to Cleantech Group. The industry group Hydrogen Council said in a 2017 report that the annual demand for hydrogen <a href="https://hydrogencouncil.com/wp-content/uploads/2017/11/Hydrogen-scaling-up-Hydrogen-Council.pdf">could increase tenfold</a> by 2050.Here's everything you need to know about this common element - and how it's set to shape the future of energy.<h2>'We live in a hydrogen economy and don't know it'</h2>For starters, we use a lot of hydrogen already - about 70 million metric tons each year, according to the IEA. Nearly all of that goes toward the production of a handful of industrial commodities including ammonia, in addition to refined oil, methanol, and steel."We live in this hydrogen economy and don't know it," said Kevin Harrison, a senior engineer at the National Renewable Energy Lab.But here's the thing: While hydrogen is abundant and all around us, you can't just pull it out of thin air.What you can do is pull it out of water, through a process known as electrolysis. The issue is that electrolysis takes a lot of energy and can be expensive.A cheaper option is to extract hydrogen from fossil fuels. And that's exactly what we do. <a href="https://www.iea.org/reports/the-future-of-hydrogen">Nearly all</a> of the hydrogen we use is produced with methane, natural gas, or coal, according to the US Energy Information Administration.As a result, the hydrogen industry is a hefty polluter. It's responsible for releasing about 830 million metric tons of carbon dioxide each year - or about the same as the UK and Indonesia combined, according to the IEA.But there is an alternative. It's called green hydrogen.<h2>Greening the hydrogen industry</h2>Electrolysis, while expensive, is appealing to an industry trying to reduce its carbon footprint.If you operate electrolysis technology using renewable energy sources like solar and wind, you can create clean hydrogen - aka "green hydrogen."Until recently, renewable energy was far more expensive than fossil fuels, so using it to split hydrogen was impractical.But that's starting to change. The cost of solar panels has dropped by about 80% since 2009, and wind turbines are now 30% to 40% cheaper, according to the <a href="https://www.irena.org/costs">International Renewable Energy Agency</a>."Deploying electrolyzers that make green hydrogen out of wind and solar electricity is becoming more and more cost-effective," Harrison said.Plus, renewable-energy operators are searching for technologies that allow them to store a surplus of energy. Converting that energy to hydrogen through electrolysis is essentially a way to store it, as hydrogen can later be converted back into electricity."If we want more wind and solar on the grid, you're going to need a place to put that electricity when it's not being used," Harrison said.There's another reason the market for green hydrogen is set to grow: Even if we switch to renewable power, some industries will still be carbon-intensive, says Eric Ingersoll, a hydrogen market expert and managing director of the clean-energy consulting firm LucidCatalyst.Sourcing green hydrogen is a relatively easy way for industries to minimize their footprints."In some ways, we're making a lot of progress with renewables, but we're not making the kind of progress we need with overall decarbonization," Ingersoll said. "People are starting to realize now that we need to have very practical solutions that can decarbonize our existing infrastructure."<h2>Experts say hydrogen fuel cells will power future heavy-duty vehicles</h2>Green hydrogen isn't just cleaning up an industry feedstock. Experts say it could also accelerate clean transportation- as it has promised to do in years past - through the application of hydrogen fuel cells.Fuel cells are basically batteries. Through a reaction involving hydrogen and oxygen, they produce electricity, with water as the main byproduct.Like batteries, fuel cells can power electric motors. Plus, they have numerous important benefits, such as charging quickly, Harrison said.He said you could fill a fuel-cell vehicle in three to five minutes and drive 300 to 400 miles on a single charge.There are some hydrogen vehicles cruising the streets of the US, and some automotive giants are now increasing production, according to Pierre-Etienne Franc, a cosecretary of the Hydrogen Council.But they haven't caught on like traditional electric vehicles, largely because of the cost of building out fueling infrastructure - and of buying and maintaining the cars.Both the Toyota Mirai, a sedan, and the Hyundai Nexo, a compact SUV, start at about $58,000, for example, and it costs the equivalent of about <a href="https://cafcp.org/content/cost-refill">$5.60 a gallon to fill up in California</a>, which is more than <a href="https://gasprices.aaa.com/state-gas-price-averages/">the price of gasoline</a>.More likely, experts say, is that hydrogen cells will take off in heavy-duty vehicles, such as long-distance trucks, trains, and forklifts.Harrison says it comes down to size and scale: You can scale up hydrogen fuel cells at a reasonable cost, especially where space is less of a constraint. Lithium-ion batteries, on the other hand, become too expensive if you're trying to power something heavy for a long time.Put another way: "The heavier the load, the longer the autonomy, and the bigger the hours you use, the more you need hydrogen," Franc said.The applications of fuel cells don't stop at transportation. Experts say they could also be used to electrify and warm homes - a byproduct of the fuel-cell reaction, other than water, is heat - and store energy on the grid for long periods. But these technologies are expensive and may take longer to gain a foothold, they said.<h2>Turning green hydrogen into natural gas</h2>With a little creativity, you can also use hydrogen to make what Harrison calls "renewable" natural gas.Through a process called biomethanation, hydrogen is combined with the carbon from carbon dioxide. If the hydrogen is green and the carbon dioxide is recycled (through carbon capture), the resulting gas is carbon-neutral, he says.The resulting natural gas is no different from what's already flowing through pipes to homes and businesses and could also be used as a fuel for transportation.According to the International Energy Agency, hydrogen can also be blended into natural gas. That would reduce emissions, as a smaller portion of the gas would be carbon-based.But experts Business Insider talked to were skeptical of this approach. For one, they said, hydrogen could degrade our existing pipes."You can theoretically only inject around 20% of hydrogen into a natural gas network before you start dealing with degradation issues in the pipes," Louis Brasington, an energy analyst at Cleantech Group, said. "Unless the power-to-gas blending issues and the challenges occurring around pipe degradation are solved, you're not going to convince a lot of the investors to get involved with those kinds of projects in the near term."<h2>2 major challenges hold back hydrogen</h2>With such a wide range of clean-tech applications, it seems surprising that green hydrogen isn't already a big part of the economy. Until you learn about two big challenges to adoption.The most obvious problem is that it's difficult to transport. This is a little counterintuitive, considering hydrogen is the lightest element on Earth. But in fact, that's the problem: While hydrogen has more energy per unit of mass - compared with, say, natural gas - it's so lightweight that you need a really large volume of it to meet the same energy demands as carbon alternatives."Even when it's compressed, it takes up quite a lot of space," Ingersoll said.Pressure is another challenge, especially if you're trying to scale up fuel-cell vehicle infrastructure."You're now needing new storage tanks," Harrison said, mentioning that they'd have to be above ground. "I think the biggest challenge is with fueling infrastructure. It costs between $1 million and $2 million to retrofit each fueling station to contain hydrogen."Another option is to turn the hydrogen gas into a liquid - which is much more compact. The downside is that it requires about 15% of hydrogen's energy content just to do that, Ingersoll said, making the process less efficient.The second challenge is cost. While the price of renewable energy is tumbling, electrolysis still isn't cheap. Extracting hydrogen from fossil fuels is cheaper, for now.<h2>A bright future for hydrogen</h2>At least one of the barriers to hydrogen appears to be shrinking: On Monday, the Hydrogen Council <a href="https://hydrogencouncil.com/en/cost-reduction-study-announcement/">released a report</a> projecting that the cost of hydrogen would fall by up to 50% in the next decade "for a wide range of applications.""What's really missing for those applications to reach competitiveness is not so much technology," Franc said. "It's scale. If you bring scale, then you bring those technologies to a level where they are competitive to the existing fossil solutions."Startups are chipping away at the other big challenge - transport and storage. A company called Hydrogenious, for example, is developing an advanced liquid hydrogen carrier. The startup's tagline is "Hydrogen handling made easy."There are now about 50 "targets, mandates, and incentives" in place, globally, that "support hydrogen deployment," according to Cleantech Group.Coupled with falling costs, rising innovation, and the climate crisis, green hydrogen just might be poised to finally enter the mainstream.Do you have a tip about companies in the hydrogen economy? Email this reporter at bjones@businessinsider.com or reach him through the encrypted messenger app Signal at 646-768-1657.

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IndianOil unveils India's first green hydrogen-run bus that emits just water

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SIMPLY PUT: Everything you need to know about green hydrogen and India’s new policy around it

Plug Power stock jumps 10% on deal to provide Walmart with hydrogen

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Reliance to commission new energy giga complex this year

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New ways of making hydrogen are set to transform the energy industry. Here's everything you need to know about the $145 billion market.

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