Only five countries can produce it future energy j Spain belongs to them. Quite a revelation after the appearance of a huge rope that could be the future of energy. The rapid expansion of wind and solar energy projects has led to an imbalance between electricity supply and demand Europe.
As a result of the surplus, the electricity price has fallen renewable energy in certain periods. However, gas-fired power stations must continue to function to compensate for times when this is not the case.
The European electricity grid has a flexibility problem. The storage of energy It is scarce and therefore does not benefit from the surplus generated by wind and solar energy in times of strong winds or when the sun shines abundantly. There are other alternatives, such as pumped hydroelectric power stations, that the major electricity companies are looking at closely.
Hydrogen, the energy of the future that can only be produced in 5 countries
The most favorable vector to store that surplus energy It is hydrogen, especially hydrogen. This is caused by the electrolysis of water with renewable energies. Production can be carried out in cases of low energy demand with seawater, by adding a desalination plant to the process.
The gas ‘stores’ that renewable energy and then it can be burned to stabilize the network if the opposite scenario occurs: high energy demand and low green hydrogen production. Spain will become one of the cheapest countries to produce green hydrogen in the future.
According to Bloomberg New Energy Finance (BNEF)the production costs green hydrogen in Spain and 4 other countries (China, Brazil, India and Sweden) in 2030 will be more moderate than what it costs to generate gray hydrogen with gas in existing power stations. These 5 countries will be the first to achieve the most affordable costs for green hydrogen generation (from renewable energies).
The report of Bloomberg warns that by 2023 the costs of the initiatives of green hydrogen It became more expensive compared to FY 2022. Inflation, higher financing costs for some markets and longer construction times were the main reasons.
Nevertheless, these 5 countries are located below Spain Through their optimal integration of renewable energy, they will overtake the current gray hydrogen in the coming years. The vast majority will achieve this target before 2035.
Spain will produce the energy of the future at cheaper values than expected
According to the data from the report, the green hydrogen undermines the new gray hydrogen in more than 90% of the markets for the mentioned year. If the same comparison is made with blue hydrogen, the results are also satisfactory. The drop in natural gas prices suggested that blue hydrogen is still the most competitive low-carbon alternative.
It should be noted that blue hydrogen is the same as gray hydrogen. Methane is extracted, but does not enter the atmosphere. Instead, CO2 is captured and stored underground so as not to cause a greenhouse effect. The average normalized cost of blue H was 59% cheaper than green on projects financed in 2023 due to a decline in future gas prices since the second half of 2022 update.
Despite this, the green hydrogen undercuts blue one to three years earlier in all markets Green will be more affordable than the new blue by 2028 using Chinese alkaline electrolyzers and by 2023 using Western electrolysers. The most modest hydrogen will be produced in 2030 Brazil with onshore wind power and electrolyzer manufactured in a country of West.
Only five countries can produce it future energybeing Spain one of them. As the long-awaited year 2030 arrives, the world is marveling at this discovery of hydrogen in its natural state beneath the Earth: the exit could be in Spain.