RABAT, Aug 20 — 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 US$1.4 trillion-a-year (RM6.5- 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 (US$110 billion per year), North America (US$63 billion), Australia (US$39 billion) and the Middle East (US$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 20, 2023 21:20 UTC