Clean transportations thrusts fuel cells into the limelight
South Korea is looking to make clean transportation commercially viable. The country aims to have some 1,000 fuel cell vehicles on the road by 2020 and will be investing in the infrastructure hydrogen fuel infrastructure needed to support these vehicles. Last year, Hyundai released a fuel cell vehicle, which became one of the first fuel cell vehicles that was available in the commercial market. The launch of the vehicle put a spotlight on hydrogen fuel cells and their potential uses in various sectors.
Fuel cells continue to attract attention in various industries
Hydrogen fuel cells have managed to establish a strong position in the auto industry, where they are being used to power a new generation of vehicles. This is not the only use for fuel cells, however, as they can be used for a wide variety of purposes. Several fuel cell projects have emerged in the country, seeking to further the use of these energy systems in the commercial sector, as well as in the residential space.
10% of South Korea’s power may come from fuel cells
A recent report from OilPrice.com suggests that South Korea intends to derive no less than 20% of its energy from renewable sources by 2030. An estimated 10% of this energy may come from hydrogen fuel cells. Several fuel cell plants have been commissioned in South Korea, and these power plants will provide electricity to the country’s energy grid. South Korean companies have been investing in fuel cells as well, hoping to become more environmentally friendly and save money by distancing themselves from fossil-fuels.
Partnerships may help fuel cell market flourish
South Korea may soon become one of the world’s most dynamic and influential fuel cell markets. The government is investing heavily in the development of fuel cell technology and several South Korean companies are partnering with those in the United States in order to make better use of hydrogen fuel. Such partnerships are likely to have a significant impact on the fuel cell market in the coming years.