Page 45 - BANKING FINANCE APRIL 2024

ARTICLE

GREEN

HYDROGEN -

AN ELIXIR FOR

WORLD'S

ENERGY NEEDS

Abstract of Article vehicles where it is not possible to deploy huge battery
packs in the vehicle
Solar, wind, hydro and nuclear power have been known
as alternative sources of energy since a long time. According to International Atomic Energy Agency,
Hydrogen is relatively a new entrant on the block. green hydrogen currently accounts for only 1 percent
of the global hydrogen supply
There are various reasons as to why hydrogen, in
particular, green hydrogen is being viewed as a very But in view of the thrust the governments across the
strong contender to replace fossil fuels to fulfil our world are giving to adoption of green hydrogen, it can
energy needs safely be said that green hydrogen can fulfill a
substantial part of our energy needs in the near future
Hydrogen has twice the gravimetric energy density (i.e.
energy available per unit mass of a substance), as
In the year 2022, when Union Roads & Transport Minister
compared to fossil fuels.
Sh. Nitin Gadkari drove a hydrogen fuel cell powered car to
There are certain use cases where it is not feasible to the Parliament, it attracted a lot of media frenzy. Generally,
use other common renewable energy sources. For ex- solar, wind, hydro and nuclear energy are the renewable
green hydrogen can be used as a fuel in very large sources of energy which are mostly talked about at various

forums/in the media in our country. Suddenly, with this
About the author gesture by the Union Minister, hydrogen (as an alternative
fuel) became the talk of the town.
Arun K Bhardwaj
Chief Manager (Research)
State Bank of India Solar, wind, hydro and nuclear power have been known as
State Bank Academy, Gurugram alternative sources of energy since a long time. Hydrogen

40 | 2024 | APRIL | BANKING FINANCE