No. 154 / Oct 18, 2021
Technology has continued to develop since the First Industrial Revolution in the 18th century. Currently, the Fourth Industrial Revolution is underway, and people enjoy many new things. However, the fossil-fuel-oriented energy system created after the First Industrial Revolution raised the temperature of the Earth, and the environment being destroyed by global warming, and some animals that have lost their homes are on the verge of extinction. In this situation, the world is now moving to convert to hydrogen energy, not fossil fuels. What is the power of a hydrogen economy using hydrogen energy?
The definition of a hydrogen economy refers to an economic and industrial structure that uses hydrogen as a major energy source. The transition from a fossil fuel economy to a hydrogen economy will replace all fuels, including ships, trains, machinery, and electricity generation, with hydrogen. What is important in the hydrogen economy is the stable production-storage-transportation of hydrogen.
Why is replacing fossil fuels with hydrogen significant when there are other sources of energy? Hydrogen is the most common element. It can be stored as a liquid or high-pressure gas, and transportation is easy. There is also no disadvantage of eco-friendly energy in which production varies depending on the local environment. Thus, a hydrogen economy has many advantages. However, there are clear disadvantages to the current stage of the hydrogen economy. Hydrogen explodes easily, so there are many stability problems, and pollution emissions are still being made because fossil fuels are used more than other energy sources in the process of generating hydrogen. However, the effects of the hydrogen economy not only preserve the environment but also create jobs and have several additional effects.
Currently, Korea is considering the transition from a fossil fuel economy to a hydrogen economy and is implementing plans. In August 2018, the hydrogen economy was selected as one of the three major investment areas, and strategies and plans for revitalizing the hydrogen economy by 2040 were established and implemented through a roadmap to revitalize the hydrogen economy in 2019. Large companies such as Hyundai Motor Company and SK Group also participate in the hydrogen business. Hyundai Motor Company has set the goal of increasing its annual hydrogen electric vehicle production to 500,000 units by 2030, while the SK Group has established a hydrogen business group. There are many movements not only in Korea but also in the rest of the world. The German-centered European Union (EU) is trying to produce hydrogen with time-consuming power in eco-friendly energy production, such as solar and wind energy, while the United States (U.S.) is also leading the electric vehicle-oriented eco-friendly means of transportation. Japan is also focusing on developing related technologies to produce and procure hydrogen. As such, the hydrogen economy is emerging as an indispensable area for the global economy in the future.
By Kim Jae-hyun, AG Reporter
zxc2337@ajou.ac.kr
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