DNV finds hydrogen important for the energy transition
Norwegian risk management and quality assurance firm DNV said July 1 that survey results showed most energy professionals saw hydrogen as an important part of the energy transition, but few are drawing revenue from it yet.
A survey of more than 1,000 senior energy professionals and industry executives showed that 84% of the respondents said that hydrogen could be a major part of the energy transition. A little more than half, some 55%, said they only entered the hydrogen space in the last three years, while 45% said it accounted for less than 1% of their current revenue stream.
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“Hydrogen has a new status in 2021 as an important, viable and rapidly developing pillar of the energy transition,” said Ditlev Engel, the CEO of energy systems at DNV. “Yet ambitions and the rate of change in the hydrogen economy are demanding, and the industry needs to prepare.”
DNV in June signed an agreement with Keppel Offshore & Marine (Keppel O&M) for collaboration on the hydrogen value chain in Singapore. Both sides agreed to work together to explore and develop a range of topics, including safety requirements for hydrogen as an energy source, infrastructure requirements for hydrogen storage and local transportation, and offshore applications for hydrogen technology.
DNV may be ahead of the game, though the industry is expected to catch up. By 2025, just under half of the energy companies expect hydrogen to account for about 10% of their total revenue and that jumps to 73% by 2030.
That compares with just 8% of those surveyed who said hydrogen accounts for a tenth of their revenue today.