MEPs from nearly all political groups in the European Parliament have presented a Green Hydrogen Charter urging the EU to mobilise all forces to shift to "a fully integrated green hydrogen economy by 2025". Inspired by American visionary and author Jeremy Rifkin ("The hydrogen economy") and pointing to high oil prices and global warming, the MEPs demanded the floating of a Europe-wide hydrogen bond to raise the necessary billions of euros to build a green hydrogen economy infrastructure.
Chronology of EU initiatives
The MEP initiative on hydrogen is not the first one at EU level. In 2002, the Prodi Commission made the hydrogen economy one of its main priorities (Rifkin was personal adviser to President Prodi). Based on a report of a high-level group of industry experts, the Commission launched in January 2004 a "Hydrogen and Fuel Cell Technology Platform" (HFP). In March 2005, this Platform presented its research agenda and deployment strategy (see EurActiv 17 March 2005).
International
In the US, the Bush administration has earmarked 1.8 billion dollars over five years for a Hydrogen Fuel Initiative and a complementary FreedomCAR project. The EU, the US and other partners are working together in an "International partnership for the hydrogen economy".
Challenges
The biggest problem with hydrogen is that it is not a new energy source, but an energy carrier. Hydrogen is not produced from wells but needs to be produced using other energy sources (e.g. through electrolysis or steam reforming of methane). Therefore, the hydrogen economy will only be as clean as the original energy source it is made from (coal, nuclear, natural gas, or renewables). Contrary to the Commission's proposals, the MEPs have clearly made a choice for a hydrogen economy based on renewables.
Another challenge is economic. Production of hydrogen is still very expensive. According to the US Department of Energy, the cost of producing hydrogen would have to be reduced by a factor of four to make hydrogen economically competitive with today's fossil fuels. Of course, rising oil prices could change this state of affairs.
A hydrogen economy will also need a complete new energy infrastructure which is expected to cost hundreds of billions of euros.
