A new report from Lux Research, an independent US-based research and advisory firm in the renewable, energy, water and emerging technology sectors, suggests that hydrogen will not be the amazing new fuel that some have predicted, though niche applications are likely to continue to grow.
The report states that hydrogen fuel cells can be expected to grow to a $3 billion market of about 5.9 GW by 2030. By comparison, GallonDaily notes that the installed capacity of the US electricity sector today is over 1000 GW. The Lux Research press release states that “High capital costs and the low costs of incumbents provide a nearly insurmountable barrier to adoption, except in niche applications”. Among the findings of the report:
- Hydrogen generation accounts for less than 33% of the cost at the pump.
- Proton exchange membrane cells will have a $1 billion stationary market.
- Mobile applications will be worth $2 billion.
- Hydrogen demand from fuel cells will total 140 million kg in 2030.
A press release containing more information and a link to the report (subscription or purchase required) is available at http://www2.luxresearchinc.com/news-and-events/press-releases/143.html