A road map to the U.S. hydrogen economy highlights the need for investment, policy development and govt/private industry collaboration
Eighteen private-sector companies released the full report of Road Map to a U.S. Hydrogen Economy. An executive summary of the report was released in December. In addition to data about the potential for growing a nascent U.S. market in hydrogen-related industries, the report calls for nine policy and programmatic actions that are needed to develop and expand these markets.
The U.S. is now one of 18 countries, representing 70 percent of global GDP, that have developed detailed strategies for deploying hydrogen energy solutions, according to the recent report published in January by the Hydrogen Council, Path to Hydrogen Competitiveness: A Cost Perspective. That report shows that the cost of hydrogen solutions will fall sharply within the next decade, sooner than previously expected.
By 2030, the 96-page U.S. hydrogen road map estimates that the “hydrogen economy in the U.S. could generate an estimated $140 billion per year in revenue and support 700,000 total jobs across the hydrogen value chain. By 2050, it could drive growth by generating about $750 billion per year in revenue and a cumulative 3.4 million jobs.”
The U.S. road map highlights the leadership of California in the funding and incentivizing of zero-emission fuel cell electric cars, buses and trucks, in addition to green and zero-carbon hydrogen. The report includes a special call-out on the Golden State on pages 68-69.
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Our colleagues at the Fuel Cell and Hydrogen Energy Association managed the report development process, with the Electric Power Research Institute (EPRI) contributing scientific observations and technical input, and McKinsey & Company providing analytical support.