In an interview with energy expert Frank Vanaerschot, critical insights into the complexities of the green hydrogen transition were unveiled.
Estimated operating costs for hydrogen projects hover around 70 billion Euros, with projections reaching a staggering 100 billion Euros for related initiatives. These estimations underscore the financial magnitude of the green transition.
Vanaerschot highlights a disconcerting trend: many projects spearheaded by energy companies lack a genuine commitment to green hydrogen. The concern is raised about the alignment of these initiatives with the broader goals of the energy transition.
Addressing market distortion, Vanaerschot acknowledges the necessity of public funds in the transition but underscores the challenge. Public money is being injected into projects that don’t resonate with the imperative of decarbonization, posing both social and environmental risks.
Proposing a paradigm shift, Vanaerschot emphasizes the need to prioritize societal and environmental interests over business concerns. He advocates exploring technologies beyond fossil fuels and adopting a more holistic view of the transition.
Watch the full interview: