By 2050 North Africa could become a leading exporter of green hydrogen with Europe its main market, according to a recent report projecting the future of an industry still in its infancy. So-called green hydrogen is set "to redraw the global energy and resource map as early as 2030, creating a $1.4 trillion-a-year market by 2050," according to the report from accounting consultancy Deloitte. By 2050, according to Deloitte, the main green hydrogen exporters are likely to be North Africa ($110 billion per year), North America ($63 billion), Australia ($39 billion) and the Middle East ($20 billion). But the need to meet climate targets and generous subsides are driving demand for clean energy of all kinds, including green hydrogen. Truly green hydrogen releases hydrogen from carbon-free water molecules (H20) using an electrical current from a renewable source.

Source: The North Africa Journal August 17, 2023 04:49 UTC