Green hydrogen and Artificial Intelligence (AI) could be game changers for the renewable energy sector, according to a recent report by EY.
Two enablers - green hydrogen and AI - look set to play critical roles in stabilising grids as renewables are scaled up, EY's bi-annual Renewable Energy Country Attractiveness Index (RECAI) report said.
"The ability to convert renewable energy into hydrogen and create a chemical battery with greater long-term storage than utility battery storage could be a game-changer. While batteries are best suited to discharge times of four hours or less, hydrogen energy storage can be used for discharge times of days, or even weeks," the report said.
Green hydrogen could be a green alternative to fossil fuels if costs fall and production efficiency is improved. Creating demand at scale for green hydrogen is key to its development, and will require support from industry and policymakers, the report added.
"Meanwhile, AI algorithms - with their use of the Internet of Things, sensors and big data - can help stabilise central grids with improved prediction capability through demand forecasting and asset management, and, consequently, increase dispatch efficiency," it said.
Since automation capability of AI can drive operational excellence in many crucial areas, failure to embrace it means risking falling behind the curve, said the report.
RECAI also ranked the top 40 countries in the world based on the attractiveness of their renewable energy investment and deployment opportunities. Two Arab countries - Morocco and Egypt - have moved up the ranking. Morocco is at rank 18 compared to 23 last year while Egypt has climbed 3 places to 26. Jordan slipped 9 places to rank 36.
(Writing by Sowmya Sundar; Editing by Anoop Menon)
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