Stakeholders in Natural Gas have been sniffing around the hydrogen market for a way to remain afloat in the future’s gleaming green economy, but the door is already closing. Puget Sound Energy, a US utility, has just closed a deal on a new green hydrogen project that will provide energy storage and fuel production while also driving natural gas out of the power generation market, in what could be a trendsetting step. To add to the intrigue, PSE now serves 900,000 gas customers in addition to its 1.1 million electricity customers.
For those who are unfamiliar with the topic, hydrogen is the invisible glue that holds the modern industrial economy together, at least in terms of agriculture, food processing, manufacturing, metallurgy, glassmaking, electronics, textiles, toiletries, pharmaceuticals, and, of course, rocket fuel. Nobody thinks about hydrogen, but it’s impossible to walk into a room without coming into contact with it, particularly now that hydrogen-enhanced water is a thing. No, seriously. It’s a real thing.
Through adding an electrical current to water, hydrogen can be extracted, and the price of this so-called green hydrogen has dropped like a stone in recent years. Green hydrogen will, according to one estimate, be cost competitive with fossil-sourced hydrogen by 2030, but Puget Sound Energy isn’t waiting for the grass to rise under its feet.