Hydrogen is thought to have a bright future as a greener energy source despite its current low adoption rate. Hundreds of billions of euros are projected to be invested into renewable hydrogen in Europe in the next 30 years and the current market size for hydrogen is valued to be in the range of USD 120 billion.
To use hydrogen for residential purposes Alkaline Fuel Cell Power” is working to complete a working prototype of a hydrogen fuel cell system, production models of which are planned to be available in 2024. Hydrogen fuel cells, like the ones being developed by Alkaline Fuel Cell Power, are essentially small power stations which convert hydrogen fuel into electricity without any harmful by-products or emissions, such as CO2.
Clean energy has already become a critical concern for Europe, however the supply of currently available technology is not sufficient to meet the growing demands. The design of Alkaline Fuel Cell Power micro-CHPs was made specifically to fill the increasing consumer demand for clean energy. It has lower material costs than what is currently available, thus making it more viable for the consumer market and residential use. Current energy storage technology solutions comparable to that of Alkaline Fuel Cell Power are far too expensive for adoption for residential purposes.
In general, hydrogen fuel cells are a good fit for residential and consumer purposes as they are virtually silent, vibration free, with only pure water as a by-product as there is no combustion in the process. Analysts estimate that clean hydrogen could meet 24% of world energy demand by 2050. Alkaline Fuel Cell Power’s designs are made with the small and residential power markets in mind and use mostly common materials like nickel, graphite and plastic in order to reduce manufacturing costs and to allow for a high volume production.