October 1, 2024
Journal Article
The hydrogen economy can reduce costs of climate change mitigation by up to 22%
Abstract
Man-made climate change requires urgent mitigation. Hence, many nations consider a target of net-zero CO2 emissions by mid-century. This ambitious target will require a complete restructuring of the energy system and has renewed interest in hydrogen as an energy carrier. However, it remains highly uncertain to what extent hydrogen may be deployed in a future energy system, where and at what cost. Here we improve on the state-of-the-art integrated assessment model GCAM and simulate a global 'net-zero' energy system enabled by hydrogen and other mitigation options. We find a moderate use of hydrogen in a future net-zero economy, mainly in 'hard-to-electrify' sectors. Yet, hydrogen enables a reduction of mitigation costs on the order of 15-22% by 2050. Our findings may inform optimal investment decisions for effective climate change mitigation.Published: October 1, 2024