Hydrogen is one of the best ways to store renewable energy, it can be produced from water via electrolysis using renewable energy for an absolutely clean fuel. To use this fuel, hydrogen fuel cells can be used, which are essentially small power stations providing electricity and heat. They rely on a chemical reaction, rather than combustion, in their operation, which means that there is zero noise or vibration caused by them. The only by-product of this chemical reaction is water. Hydrogen fuel cells can provide backup power when the electric grid goes down or serve as a replacement for it during peak hours. The electrical grid connection can also be replaced by a hydrogen fuel cell entirely.
A hydrogen fuel cell company called Alkaline Fuel Cell Power stands out from their competitors with their innovative design utilizing competitively priced components. Alkaline Fuel Cell Power is currently working to develop their first 4 kW system with plans for the fuel cells to be available for commercial applications in 2024. Alkaline Fuel Cell Power’s energy storage technology was designed to fill the constantly increasing consumer demand for clean energy. Alkaline Fuel Cell Power’s low component material costs make residential adoption more viable than what is currently attainable from competing energy storage solutions. Alkaline Fuel Cell Power’s price leading fuel cell manufacturing technology allows for high volume of production by using common, accessible materials like plastic, nickel, and graphite.
Residential prices for electricity in the US are projected to rise by 16.68% by 2031, meanwhile the price of green hydrogen is to fall by half in the US and Europe by 2050. In fact, hydrogen demand around the world has been steadily increasing, having tripled since 1975, and continues to grow to this day due in part to government initiatives to increase its presence as a green fuel. An example of these initiatives is a pro-green hydrogen plan launched by the European Union in July 2020, investing $150 billion over the next decade.