POSITION PAPER ON HYDROGEN ECONOMY
Hydrogen economy is a type of circular economy where hydrogen is produced from carbon-free sources such as water and renewable energy and is used as an alternative fuel for transport and electrical power generation (Liu et al., 2012). Water vapour produced from the hydrogen energy conversion returns to the atmosphere and condenses as water to be reused in the hydrogen economy. The hydrogen economy is driven by the input of renewable energy in hydrogen production.
Figure 31: The Hydrogen Economy
In the hydrogen economy, hydrogen energy is now widely accepted as a promising energy carrier for decarbonizing transport and electricity generation, mitigating the emission of greenhouse gases (GHG)/carbon that causes global warming and climate change, and enhancing security of the energy supply. Many countries are currently embarking on a transition to the hydrogen economy. They have published technology roadmaps of hydrogen economy that will make the transition possible (Ajanovic, 2008, Agnolucci and McDowall, 2013; Kontogianni et al., 2013, McDowall and Eames, 2006, Stiller et al., 2008, Mcdowall, 2012, Lee, 2013).
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