(Credit: Pixabay) A new study forecasts that global green hydrogen production will skyrocket at a compound annual growth rate (CAGR) of 57% between 2019 and 2030, rising from 40,000 tons to 5.7 million tons. That’s according to Frost & Sullivan’s recent analysis, “Advances in Green Hydrogen Create Opportunity across the Global Power Sector.” Increasing concerns about carbon emissions and the need to decarbonize the industrial, commercial, transport, and power sectors have forced countries to reduce their dependency on fossil fuel-based systems and increase investments across alternate low-carbon technologies, including green hydrogen. “The total decarbonization of certain sectors like transportation and power cannot be achieved solely by electrification. This challenge can be addressed by green hydrogen produced through electrolysis from RES (renewable energy sources), wind and solar, in particular,” said Swagath Navin Manohar, Industry Analyst. “Green hydrogen produced through electrolysis can then be used downstream as a chemical feedstock material in carbon-intensive sectors that are difficult to decarbonize through electrification alone. Currently, green hydrogen accounts for less than 1% of the total hydrogen produced. The global demand for green hydrogen and its emerging applications is expected to increase exponentially in the next 20 years, creating the need for considerable infrastructure to handle production and delivery.”