Hydrogen has an important role to play in any transition to net-zero and its generation could develop into a market worth over $1 trillion a year, according to Goldman Sachs.
"If we want to go to net-zero we can't do it just through renewable power," Michele DellaVigna, the bank's commodity equity business unit leader for the EMEA region, told CNBC's "Squawk Box Europe" earlier this week.
We need something that takes today's role of natural gas, especially to manage seasonality and intermittency, and that is hydrogen," Goldman Sachs' Michele DellaVigna told CNBC. Described by the International Energy Agency as a "a versatile energy carrier," hydrogen can be produced in a number of ways. One method includes using electrolysis, with an electric current splitting water into oxygen and hydrogen.
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