As an industry that moves 80% to 90% of the world’s trade and contributes to 3% of the world’s greenhouse gas emissions, shipping has enough emissions to limit global temperature rise to 1.5 degrees Celsius. There is a lot to do to reduce it.
To achieve this goal, the International Renewable Energy Agency (IRENA) said: report Announced Wednesday, 70% of the shipping industry’s energy mix needs to be green hydrogen-based fuels by 2050.
According to IRENA, this fuel shift will reduce emissions by 80% compared to 2018 levels. According to the report, hydrogen-based fuels such as e-methanol and e-ammonia “will be the backbone of decarbonization in this sector.”
Green hydrogen It uses renewable electricity to power electrolysis, separating hydrogen from oxygen and releasing only oxygen. E-methanol It is created by combining carbon dioxide and green hydrogen recovered from industrial resources. E-ammonia, or Green ammoniaIs produced by a combination of nitrogen in the air and green hydrogen. Renewable power is used to power both e-methanol and e-ammonia manufacturing processes.
Large vessels have a long service life of 25 to 30 years, so carbon-neutral vessels and engines need to be developed between 2025 and 2030, according to reports. In addition, many vessels will need to be modified and built to decarbonize this sector. .. The International Maritime Organization predicts that demand for maritime transport could increase by 40% to 115% by 2050 compared to 2020 levels.
IRENA said this is the ideal transport fuel mix for 2050.
- 10% from advanced biofuels. These biofuels are said to be particularly important for reducing emissions in the short term.
- 60% from green hydrogen based fuels such as e-methanol and e-ammonia.
- Forty-three percent could come from electron ammonia alone, requiring approximately 183 million metric tons by 2050.
- If e-ammonia makes up the majority of green hydrogen-based fuels, 17% can come from e-methanol.
- 30% from all other fuel sources.
Green premium It currently exists for these carbon-neutral fuels. IRENA said it could close the price gap by increasing investment in R & D and continuously lowering renewable energy prices. However, there was another strategy mentioned to speed up the migration process. That’s the price of carbon.
“Realistic carbon levies are important and we set adjustable carbon prices for each fuel to prevent investment in new fossil fuels and stranded assets,” the report said.
While many in the shipping industry are hesitant to adopt green technology or invest in green fuel supplies due to lack of reliable demand, purchasing new fossil fuel-powered vessels carries its own risks. May be accompanied.When governments, businesses, downstream customers, and consumers enforce regulations, or Clear demand for cleaner delivery, The shipper may abandon the property.
What’s New in Hydrogen: Investment and Road Transport
Green hydrogen, according to experts, is marine, long-distance trucking, and Aviation.. In these cases, one of the reasons hydrogen outperforms battery power is that it travels farther. However, recent insights show that hydrogen investment needs to increase dramatically to decarbonize the transportation sector by 2050.
“Although the adoption of hydrogen as a clean fuel is accelerating, it still hasn’t reached what it takes to reach net zero emissions by 2050,” he said recently. Report of the International Energy Agency (IEA)..
If all announced industrial hydrogen programs are realized, the IEA predicts that the number of hydrogen fuel cell electric vehicles (FCEVs) deployed will reach 6 million by 2030. This is 40% of the amount needed to meet the institution’s net zero emission scenario. We also predicted that the electrolytic capacity would fall below the target of 850 gigawatts in 2030 and reach 90 gigawatts.
“We estimate that $ 90 billion in public funding needs to be invested in clean energy innovation around the world as soon as possible, about half of which goes to hydrogen-related technologies,” the IEA report said. ..
While the IEA sees room for significant improvements in investment in hydrogen technology, IDTechEx estimates that the market value of hydrogen FCEVs could increase to $ 160 billion in 2042. report Released on Monday.
IDTechEx emphasized the importance of investing in low-carbon hydrogen, such as green hydrogen, in the transition to cleaner road transport.
“Cheap gray hydrogen produced from fossil fuels makes little sense as a low-emission transport fuel. FCEV’s wheel emission footprint using gray hydrogen is more carbon dioxide than modern diesel vehicles. This is because the carbon savings are small, “says the IDTechEx report. ..
“To get the world on track for a sustainable energy system by 2050, we need faster adoption of low-carbon hydrogen,” said the IEA.
https://www.freightwaves.com/news/report-shipping-energy-mix-needs-70-green-hydrogen-based-fuels-by-2050 Report: Transport energy mix requires 70% green hydrogen-based fuel by 2050