The need for eco-friendly energy is growing, but the preparation is not so easy. Here’s what we are preparing for promoting hydrogen energy.
One Step Further to the Hydrogen Economy: South Korea
After the government announced the ‘Eco-friendly Hydrogen Economy Master Plan’ back in 2005, it unveiled the ‘The Roadmap for Hydrogen Economy’ earlier this year.
The Roadmap for Hydrogen Economy- FCEV production in South Korea
The plan is to increase the production of hydrogen-powered fuel cell electric vehicles and expand the supply of fuel cells. It also seeks to increase the cumulative total of fuel cell vehicles to 6.2 million by 2040. The ultimate goal is to create a hydrogen ecosystem.
The Roadmap for Hydrogen Economy – Increasing Hydrogen Refueling Stations in South Korea
The plan seeks to raise the number of hydrogen refueling stations to 1,200 (in total, from just 14 today) and also boost the supply of power-generating fuel cells.
The South Korean Roadmap for Hydrogen Economy – Driving the Price Down:
The government projects that the plan would drive the price down further when it keeps increasing the hydrogen supply by 2040.
Relaxing regulations for Hydrogen Economy in South Korea
The first commercial hydrogen charging station in Seoul and the world’s first such facility at a parliament building symbolizes the government’s hard work to increase the infrastructure.
Plans by 2030 – the U.S. and Germany
The U.S. seeks to have 1 million FCEVs and 1,000 charging stations by 2030, while Germany is looking to lead European efforts and has set a goal of 1.8 million FCEVs and 1,000 charging stations.
Plans by 2030 – Japan and China
China seeks to have 1 million FCEVs and 1,000 charging stations by 2030, while Japan has set a goal of 0.9 million FCEVs and 900 charging stations.
Plans by 2030 – Australia
Australia plans to establish an entire fuel cell vehicle technology and industry chain to facilitate large scale domestic production by 2030. According to the plan, the Australian government will build a solar power plant in a desert, which is 5.5 times bigger than South Korea.
Policy for Hydrogen Economy: Government-conferred Privilege?
The hydrogen economy will become a new source of growth, not just for a specific car manufacturer but also for R&D personnel and relevant businesses. About 300 domestic parts makers are already involved in development and production, cooperating with Hyundai Motors.
Policy for Hydrogen Economy: What about Other Forms of Green Energy?
Korean Government is investing in other forms of green energy, such as solar or wind. The investment is growing annually.
Policy for Hydrogen Economy: Is This the Right Time?
The IEA estimated the need for hydrogen energy to grow. It is becoming clear that the world is creating a hydrogen ecosystem.