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From the technical, economical and environmental analysis was concluded that: For the case study of Crete
For the case study of Karpathos - Kasos
The Hydrogen Economy is not applicable at the moment although indications show that systems like the one studied at this project are soon to be viable (estimated at 5 years). This conclusion can be drawn from our "PEM price/ payback time" curve in our economic analysis page. According to plugpower (www.plugpower.com) at 2006 PEM price will have gone down to 1000 €/kW. This means that the payback time of our project reaches 11 years. Similarly, a 500 €/kW price that would give a payback time of 7 years is predicted for 2009. A key feature of the project is the integration of transportation. Had we not the opportunity to sell hydrogen as a car fuel to consumers the projects would not seem that attractive (in the case of Crete that had a faster payback time, hydrogen was used exclusively in the transportation sector). At the moment consumers are willing to pay more money for their transportation needs than for electricity, so hydrogen can be sold in a higher price and in a more efficient way as a transportation fuel than a fuel for covering electricity peak demands. This has to be considered seriously from governments and industries all around the world, so that they can create motives for people to switch to hydrogen vehicles, and thus to create a market. The need for that is immediate since 5 years is not a very long time. It is a common belief that the vision of Hydrogen Economy looks more promising in transportation applications since they are based entirely in fossil fuel technologies and alternatives are hard to be found. Funding these projects is essential for their success. EU should continue its funding policy towards RES projects. Hydrogen projects should get the maximum funding possible (50%) because their viability is very dependable on that. Finally, our questionnaire survey showed that the majority of the public is not adequately informed regarding hydrogen and fuel cell technologies, while they are familiar with other RES (wind, solar). Therefore the public must be informed through media (main source of information for the other types of RES) or campaigns from governments or competent authorities. In order to address to this need we included a page of FAQs in our website, where a great deal of information can be found given in a simple way. The environmental benefits of a hydrogen economy are of a great magnitude as tons of CO2 and other greenhouse gases can be saved. The socio-economic benefits should also be considered. In countries where most of electricity is being produced from RES and Nuclear power (such as France, UK, Germany, Denmark and Spain) the dependence on OPEC countries is because of the transportation needs. New job opportunities and business are looking up, reducing the unemployment and keeping the capital funds in a country. That represents our vision for the future. Hydrogen economy is no longer a distant notion. Soon it will be applicable in many fields. We hope that you amongst others share our vision. We hope that scientists, governments and industries around the world share it too, and that they will push forward for the development of hydrogen technologies. |
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