Report: Hydrogen, Carbon Capture to Vie with Wind, Solar

January 9, 2023--Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)--As the race to replace fossil fuels continues, some experts see wind and solar facing headwinds, while government and private sector eyes are turning more to hydrogen. Those are among the findings in a report from Dutch bank ING, titled "Energy Outlook 2023: The Growth in Renewables, Batteries, CCS and Hydrogen Infrastructure."

The report notes that most renewables benefit from high fossil fuel prices: "Increased demand by governments, businesses and households in their efforts to become less dependent on high gas and power prices from a fossil-driven energy system all help, too. The U.S. is less affected by the energy crisis, but a more volatile energy market will indeed trigger more renewable buildout. The Inflation Reduction Act (IRA) gives a huge boost to renewable project development, but the effect will likely kick in after 2023."