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Rational : A Green Hydrogen Economy for an Islandic Nation

Fossil fuels i.e., oil, gas and coal boosted technology and transport sectors during the industrial age. Dwindling reserves of fossil fuels and associated environmental ill effects have forced the world to look for other means for its energy sustenance.

The replacement of fossil fuels demands:

• * Meeting the growing worldwide demand for energy, economic and environmental sustainability,
• * Access to energy irrespective of geographical/political boundaries and
• * Done within a time frame determined by:
•   - Maintaining a balance between exhausting fossil fuel reserves and evading global warming, reaching critical levels due to fossil fuel usage.

Hydrogen is emerging as a clean and affordable energy vector having the prospect of decarbonizing industries. Its abundance is irrespective of National boundaries. Hydrogen interacts with Oxygen and produces energy in a heat engine. The same interaction through a fuel cell is noiseless and produces electricity while discharging water. Interestingly, water electrolysis powered with off-grid wind power and/or solar photovoltaic are the most economical and promising hydrogen production technologies. It seems as though access to Hydrogen is only challenged by technology.

A Hydrogen economy consists of three functional steps i.e., Hydrogen production, storage and usage. Hydrogen by nature exists as a chemical compound. Therefore, Hydrogen has to be extracted from chemical compounds. Hydrogen extraction processes using fossil fuels has been relatively cheaper than Hydrogen extraction based on renewable energy. A clear indicator of how Hydrogen has been produced in the past is shown below:

Production of Gray Hydrogen essentially uses fossil fuels in its production process. Use of fossil fuels significantly reduced Gray Hydrogen production costs as opposed to Green Hydrogen. However, the use of fossil fuels in Hydrogen extraction defeats the quest to reduce Carbon emissions. Of late, plummeting costs of solar PV and wind promises cost parity between Gray and Green Hydrogen.

Hydrogen can be stored as a gas, liquid or hydride. An ideal solution would be to store hydrogen and use it with minimum energy loss having addressed economic viability concerns. Therefore, our solutions focus on how an islandic nation could source its geographical attributes in establishing an economically viable Green Hydrogen Economy.