Long Beach, CA (November 6, 2019) – A coalition of major oil & gas, power, automotive, fuel cell, and hydrogen companies have come together to develop a Road Map to a US Hydrogen Economy. This comprehensive Road Map details how the U.S. can expand its global energy leadership, by scaling up activity in the rapidly emerging and evolving hydrogen economy, as policy makers and industry work together and take the right steps.
The Road Map stresses the versatility of hydrogen as an enabler of the renewable energy system, an energy vector that can be transported and stored, and a fuel for the transportation sector, heating of buildings and providing heat and feedstock to industry. It can reduce both carbon and local emissions, increase energy security and strengthen the economy, as well as support the deployment of renewable power generation such as wind, solar, nuclear and hydro.
“This Road Map shows how critically important hydrogen is to achieve a lower-carbon energy mix, and with the right actions now, reinforce U.S. energy leadership and strengthen our economy by generating $140 billion per year in revenue and 700,000 jobs by 2030, and, $750 billion per year in revenue and 3.4 million jobs by 2050 hydrogen,” said Fuel Cell and Hydrogen Energy Association (FCHEA) President Morry Markowitz. “In addition, if the right actions are taken now a competitive hydrogen industry can meet 14 percent of U.S. energy demand by 2050.”
A coalition of leading companies from the energy, transportation, fuel cell manufacturing and electric power industries worked jointly to develop this comprehensive road map, sharing and developing economic models as well as data on future energy needs and environmental expectations. Analytical support was provided by McKinsey and scientific observations and technical input was provided by the Electric Power Research Institute.
The U.S. is already heavily engaged in the hydrogen economy with hundreds of millions of dollars of public and private investment per year, and boasting more than half the world’s fuel cell vehicles, 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW of large-scale fuel cell power installed or planned.
“Clearly, the U.S. is a major player,” Mr. Markowitz added, “but to remain dominant, and meet future energy challenges, the U.S. has to raise its game with further investments and public policies that reduce regulatory barriers, promote research, development, and deployment, and reward innovation.” He cited the report’s analysis that “other countries are laying plans for hydrogen economies and the U.S. will need to move quickly to continue to lead in this growing industry.”
Each step along the path noted above brings the U.S. closer to the hydrogen future that will help power the nation, clean the air and support crucial new jobs. According to FCHEA’s Markowitz, the U.S. is already making progress on that road. However, “The report makes clear that how far we will go and how fast we get there is very much up to us, and the choices we make over the next few years” he said.
Copies of the Road Map Executive Summary are available at: www.ushydrogenstudy.org.
About the Fuel Cell and Hydrogen Energy Association
The Fuel Cell and Hydrogen Energy Association (FCHEA) represents the leading companies and organizations that are advancing innovative, clean, safe, and reliable energy technologies. FCHEA drives support and provides a consistent industry voice to regulators and policymakers. Our educational efforts promote the environmental and economic benefits of fuel cell and hydrogen energy technologies. Learn more at www.fchea.org.
Connor Dolan, Director of External Affairs, email@example.com, 202-261-133