Highlights
- Three quarters (77%) of businesses back hydrogen as part of their energy improvement strategy with a quarter (27%) intending to trial or implement it in the next two years
- Almost one in ten (8%) respondents say they have already installed hydrogen-ready combined heat and power (CHP) units
- A third (33%) of firms say energy costs are motivating them to adopt hydrogen
Most senior business leaders are planning to adopt hydrogen as part of their energy improvement strategies, according to new research from Centrica Business Solutions.
Three quarters (77%) reported that they had already or would implement hydrogen-ready technologies such as combined heat and power (CHP) units as they seek to optimise energy consumption and reduce carbon emissions. More than a quarter (27%) planning on doing so in the next two years.
"A progressive approach to modern energy technologies that incorporates hydrogen will mean firms benefit from reduced carbon emissions and lower energy costs"
Justin Jacober, Director of Centrica Business Solutions UK & Ireland
Almost one in ten (8%) said they had already installed hydrogen-ready CHP, while a further seven in ten (69%) are either considering the technology, trialling it or planning to implement it. This suggests that the cost and carbon saving benefits associated with the technology are seen as attractive by many organisations.
The biggest driver for investing in hydrogen is cost. A third (33%) of firms believe hydrogen will be a more predictable cost for them to factor into their plans than alternative fuels.
Justin Jacober, Director of Centrica Business Solutions UK & Ireland, said: "Organisations clearly see the potential of hydrogen in creating a net zero future, where energy costs are more predictable than those imported from overseas. A progressive approach to modern energy technologies that incorporates hydrogen will mean firms benefit from reduced carbon emissions and lower energy costs.
"What we need to see next is the UK invest in hydrogen and get ready to deploy technologies more quickly. By investing now, the UK can make sure it is a leading hydrogen economy. A fully realised hydrogen strategy has the potential to improve flexibility within the grid and enable us to better harness the power of renewables, which will be essential if we're to reduce renewable curtailment and eliminate carbon emissions."
To read the full report visit here.
About the research:
We surveyed 500 executives in December 2022 and January 2023 across food and beverage manufacturing, healthcare, hospitality and travel, pharmaceutical manufacturing, heavy industry, horticulture and light industry. 24% of respondents were from the UK, 16% Ireland, 20% Netherlands, 20% Italy, 20% Hungary.
