In an interview conducted by EnergyNews.biz, Mark Thompson, the executive director of Carbon Transition Pathways, shared insightful perspectives on the ongoing energy transition and the role of hydrogen in shaping the future of energy.
Thompson emphasized the pivotal role of governments in driving the energy transition forward. He stressed the need for policymakers to provide financial incentives to accelerate the adoption of new technologies. These incentives play a crucial role in spurring innovation and investment in renewable energy sources and clean technologies.
While acknowledging the potential of hydrogen in decarbonizing certain industrial processes like steel production, Thompson expressed skepticism about its efficiency as a fuel in the broader energy mix. He cautioned against unsubsidized green hydrogen production, citing the risk of stranded assets and advocating for incentives based on lifecycle emissions reduction in specific use cases.
He emphasized the importance of considering alternative solutions like grid integration. However, he cautioned that the transition to green hydrogen production would require substantial investment, estimated at $1.8 trillion to address existing uses alone.
