Utility and industrial companies are facing elevated pressures to find new ways of harnessing the power of renewable energy. Power and water utilities, for example, are searching for ways to reduce the carbon footprint and optimize excess renewable power. Industrial companies are searching for ways to decarbonize their processes, and minimize energy costs.
In short, the energy landscape is changing with the accelerated need for decarbonization. It is transforming from linear and wasteful to synergistic and integrated. The energy sector is moving away from the linear approach that saw utilities produce energy and deliver it downstream to consumers, and moving towards an ecosystem where production and consumption collaborate with each other.
The future involves producers and consumers using each other’s energy streams to increase efficiencies and maximize the value of energy.
Green hydrogen is playing a vital role in this transformation. The energy market is shifting towards using hydrogen as an energy carrier.