“If you haven’t yet heard about green hydrogen, you’re about to—in a big way,” Bank of America Securities writes in its September 2020 Global Research Report. Bank of America Securities forecasts that the universe’s most abundant element is among the hotter topics in the halls of industry and government from Australia to Saudi Arabia, along with a number of Asian, American and European nations.
The analyst estimates that “green hydrogen” — green because it’s produced with renewables — will become a new multi-trillion dollar commodity sector, transform the energy industry and play a critical role in fighting climate change. They write: “Green hydrogen could provide up to 24% of our energy needs by 2050, helping to cut emissions by around a third. In doing so, the transition to green hydrogen could provide $11 trillion of infrastructure investment opportunities over the next 30 years and direct annual revenues of $2.5 trillion.”