In November 2020, Chile published an important document setting out what was called the National Green Hydrogen Strategy. It is clear from the strategy that Chile views a significant long-term role for green hydrogen, made via electrolysis using renewable electricity. It is not clear at this point if there is room for blue hydrogen, using natural gas as a feedstock with CCS probably in the Magallanes area.
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The stage is set for significant electric vehicle (EV) growth in the coming decades, but even the most optimistic scenarios bring dramatic plot twists. The Biden administration has set a goal for the U.S. economy to achieve net-zero greenhouse gas (GHG) emissions by 2050. Achieving that goal will require a nationwide transition to EVs and clean energy. While EV adoption is surging, reaching many goals set by automakers and policymakers will require extensive changes that go far beyond just the vehicles on the road.
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Energy storage capacity is set to ramp up at a rapid pace in the United States over the medium term. According to the US Energy Information Administration’s (EIA) latest Monthly Generators Statistics from November 2020, the country had just under 1,350MW of utility-scale battery storage capacity in operation, with LS Power’s 250MW Gateway Energy Storage System in California the largest project in operation.
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The Latin America region contains a handful of markets with significant potential for the development of green hydrogen, although there are several weaker performing markets that rank well below the global average. Fitch Solutions has developed a Hydrogen Index, which assesses the suitability of a market for the green hydrogen industry.
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NREL’s recent report analyses different scenarios of electrification in the US and how it will impact capacity addition and operation of the grid. To meet electricity demand in high-electrification scenarios, installed capacity grows to more than double 2018 levels by 2050. Generation from low-cost renewable energy increases in all the scenarios.
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