Simply put, the transition to Green Hydrogen Jobs represents a move away from the exhausting finite sources of fossil fuels. Using an electrolyzer, water is divided into hydrogen and oxygen to create an environmentally beneficial fuel. The electrolyzer is powered by sustainable energy sources, including solar and wind power.
The nation now produces all of its hydrogen using fossil fuels. However, it is anticipated that by 2050, three-fourths of all hydrogen will be green. Governments from all across the world are changing. Over 30 nations have published 200+ hydrogen initiatives, roadmaps, and aggressive investment plans. Real hype exists. India is just a little behind too. The area is teeming with possibilities.
Green hydrogen is a renewable energy source
According to figures from the Oil Ministry, India’s oil import cost doubled to US$ 119 billion in the fiscal year 2022 from US$ 62.2 billion in the previous year.
As a result of the war between Russia and Ukraine, crude oil prices increased.
India spent US$ 13.7 bn in March 2022, when crude oil prices experienced their most considerable increase in 14 years.
The amount will only rise by 2–3 times due to the prolonged reliance on coal and oil.
Sustainable energy sources like green hydrogen will soon become more of a requirement than an option to minimize costs and this dependence.
The government is very supportive of the creation of green hydrogen
Prime Minister Narendra Modi proclaimed his intention to make India a center for producing and exporting green hydrogen on August 15, 2021, during the announcement of the National Hydrogen Mission.
Building Giga factories to create green hydrogen was the mission’s suggestion.
After then, the government unveiled a green hydrogen policy draft.
By 2023–2024, 10% of the total hydrogen requirements of refiners must be met by green hydrogen, according to the policy. The demand is around 15% for the fertilizers industry.
Additionally, businesses would be permitted to install capacity wherever in the nation. They may purchase green energy from exchanges as well.
Energy goliaths have already begun to change
Some of the largest businesses in India have already begun the transition since Green Hydrogen Jobs would replace conventional fuel.
The largest green hydrogen plant in the nation is being built by the Gas Authority of India (GAIL), the largest state-owned natural gas business in India.
In the meanwhile, NTPC intends to create green hydrogen commercially
In Leh, Ladakh, the PSU intends to build its first green hydrogen refueling station. It will initially operate five hydrogen buses.
Reliance Industries, owned by Mukesh Ambani, has also declared intentions to invest Rs 750 billion in renewable infrastructures, like power plants, solar farms, and electrolyzers.
Other businesses that are making investments in the hydrogen market include:
- Adani Corporation
- American Oil
- Toubro Larsen
- Indian Oil
Li-ion batteries in electric vehicles might be replaced with green hydrogen cells (EVs)
The brains of electric cars are lithium-ion (Li-ion) batteries.
They have become a staple of EVs since they are far lighter than conventional rechargeable batteries and maintain their charge effectively.
However, costing between 40 and 50 percent of an EV, these batteries are the most expensive part of the vehicle. They may start flames and are also unstable at high heat.
Green Hydrogen Jobs cells now. Hydrogen, the third most plentiful element on earth, powers these cells, and the sole byproduct is water.
Additionally, they function better than lithium-ion batteries in terms of excellent range and speed, and refueling only takes a few minutes.
There are several methods to profit from this green hydrogen trend.
- Purchase shares of energy firms that now create green hydrogen or want to
- Purchase shares of firms that make electrolyzers and other equipment used to produce green hydrogen.
- Invest in sectors of the economy that have many heavy goods, such as freight, steel, and energy storage.
Renewable energy, these are intriguing time. Clean energy is quite popular and draws a lot of financial investment. These renewables are supported by policies all across the world. For many businesses, this produces an economically appealing climate.