The recently introduced “Hydrogen Innovation Scheme” will give financing support until 2026, as part of the Scottish government’s commitment to invest £100 million in the developing hydrogen sector.
This program is intended to assist and encourage new and established enterprises to enter the hydrogen market, thereby driving the burgeoning green hydrogen sector.
Many view hydrogen as the straight substitute for methane, the primary component of natural gas and the fuel we rely on to heat our houses. Combustion of hydrogen produces only water vapor, as opposed to natural gas, which discharges damaging greenhouse gases into the atmosphere.
Green hydrogen is produced through the electrolysis of water using renewable energy sources such as wind and sun.
Hydrogen is vital for decarbonizing our energy sector, with hydrogen functioning as an energy storage device comparable to a battery, reducing the intermittency issue with renewables, but requiring a huge capacity.
With the introduction of hydrogen-powered vehicles, hydrogen will also be crucial for the transportation sector to reach net zero emissions.
Hydrogen is commonly recognized as the key to decarbonizing the heating sector, a hitherto intractable problem for the global community.
In light of the government’s ambitious goal of 5GW of Hydrogen production by 2030 and 25GW by 2045, the initial round of funding will prioritize initiatives that promote the production of sustainable, low-cost hydrogen.