Hydrogen and Fuel Cell Economy Could Support Millions of Jobs by 2050

WASHINGTON, April 13, 2021 /PRNewswire/ -- When it comes to finding common ground between creating a stronger economy and a cleaner environment, there's one energy solution that fits the bill—hydrogen and fuel cell technology. A McKinsey report found that by 2050, the U.S. hydrogen industry could generate an estimated $750 billion per year in revenue and support 3.4 million jobs. It also highlights that hydrogen offers solutions to tough climate challenges that other forms of energy are unable to tackle. Clean hydrogen holds immense potential as an alternative fuel and industrial feedstock for industries that are difficult to decarbonize using other energy sources.

To elevate the current and future potential of hydrogen energy, the country's leading hydrogen organization representing more than 50 companies—the Fuel Cell and Hydrogen Energy Association (FCHEA)—is leading a charge with a new campaign: Hydrogen Bonds. This multi-faceted effort highlights key benefits of hydrogen and fuel cell technology to stimulate the economy, create jobs, support climate goals and secure American leadership in the global sector.

"Hydrogen must play a critical role in the nation's clean energy portfolio; the U.S. won't reach its goal of net zero emissions by 2050 without it," said FCHEA Chair Andy Marsh, CEO and President of Plug Power.

Fuel cells generate electricity with virtually zero air pollutants, and rapid scale-up of hydrogen production could reduce the nation's carbon emissions by 16% by 2050. By 2050, greater fuel cell deployment could also reduce carbon emissions in the U.S. transportation sector by 30% and lower NOx emissions by 36%.

"Hydrogen energy is a solution for many difficult-to-decarbonize industries like transportation, electricity generation, and steel and cement production. The growth of the hydrogen industry will also lead to the creation of well-paying engineering, manufacturing, sales and service jobs. That's why it's essential we invest in hydrogen now," said Morry Markowitz, President of FCHEA.

The United States is at-risk of losing its competitive edge, as other economic blocs have committed hundreds of billions of dollars while the U.S. lags behind. The U.S. can reinforce and grow its current energy leadership position with additional, continual support for hydrogen and fuel cell technologies.

It is essential that policymakers recognize the potential of hydrogen energy now to adequately prepare for the future.

To learn more about the benefits of hydrogen energy and fuel cell technology, visit www.fchea.org/hydrogenbonds.

About the Fuel Cell and Hydrogen Energy Association

The Fuel Cell and Hydrogen Energy Association (FCHEA) represents the leading companies and organizations that are advancing innovative, clean, safe, and reliable energy technologies. FCHEA drives support and provides a consistent industry voice to regulators and policymakers. Our educational efforts promote the environmental and economic benefits of fuel cell and hydrogen energy technologies. Visit us online at www.fchea.org.

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SOURCE Fuel Cell and Hydrogen Energy Association (FCHEA)