Jobs and Climate Protection Through Hydrogen

Study by McKinsey Commissioned by the Hydrogen Council Presented at UN Climate Conference

The study “Scaling up Hydrogen,” recently conducted by McKinsey on behalf of the Hydrogen Council, shows that by 2050, nearly 20 percent of global final energy demand could be met by hydrogen and that—with CO2-free production—approximately one-sixth of current CO2 emissions could be avoided.

By 2030, 15 million passenger cars and 500,000 trucks could already be powered by hydrogen on the roads. The required investments totaling 280 billion dollars by 2030 would correspond approximately to current annual investments in renewable energy and less than half of the investments in the oil and gas sector. However, they would require incentives and favorable regulatory frameworks. It would be worthwhile to enter the modern hydrogen economy now.
By 2050, 30 million jobs could be created.

The full text can be found here.

Photo: flickr / Zero Emission Resource Organisation