Shell Sees Opportunity in Clean Hydrogen Production
The dream for those of us following renewable energy is to someday be able to produce 100% of the world's energy from renewable sources. Wind and solar power could easily provide enough energy to replace every power plant and barrel of oil in the world, if only there were a cheap, easy way to store it. Batteries are expensive and chemically intensive, so hydrogen was always seen as a top-option for long-term energy storage.
Royal Dutch Shell (NYSE: RDS-A) (NYSE: RDS-B) and ITM Power (NASDAQOTH: ITMPF) may have taken a small step toward building a hydrogen-fueled renewable future earlier this month by announcing a 10-megawatt electrolyzer complex in Germany that will supply hydrogen to its refining plant. The hydrogen could also be used to help balance the grid or be sold to customers for their own uses.
Image source: Getty Images.
Source: Fool.com
