On July 7, six ministries and commissions including the Ministry of industry and information technology and the national development and Reform Commission jointly issued the guiding opinions on promoting the high-quality development of petrochemical and chemical industry in the 14th five year plan (hereinafter referred to as the opinions). The opinions put forward that by 2025, the petrochemical industry will basically form a high-quality development pattern with strong independent innovation ability, reasonable structure and layout, green, safe and low-carbon.
Among them, green hydrogen / hydrogen rich raw materials have been mentioned many times, including:
Accelerate breakthroughs in key technologies such as new catalysis, green synthesis, function structure integrated polymer material manufacturing, and large-scale application of “green hydrogen”;
Reasonably guide fuel to “replace coal with gas” and moderately increase the proportion of hydrogen rich raw materials;
Encourage petrochemical and chemical enterprises to develop and utilize “green hydrogen” reasonably and orderly according to local conditions, and promote the coupling demonstration of refining and chemical industry, coal chemical industry, green electricity, green hydrogen and other industries;
Moderately increase the import of light, low-carbon and hydrogen rich raw materials.
In addition, the medium and long term plan for the development of hydrogen energy industry released on March 23 also clearly states that will focus on hydrogen production from renewable energy – namely green hydrogen; At the same time, it will also study and explore the supporting electricity price policy for hydrogen production from renewable energy power generation
It is worth mentioning that the International Renewable Energy Agency (Irena) recently released a report that it is expected that the demand for green hydrogen will increase significantly in the future. However, at present, the green hydrogen market is still in its infancy. The policy formulation mainly focuses on the application in the field of transportation and pays less attention to industries such as chemical industry and steel manufacturing. Therefore, it is necessary to improve the green hydrogen industrial policy to give full play to the decarbonization value of green hydrogen to the greatest extent.
The opinions issued by the six ministries and commissions is an important supplement to the application of green hydrogen in the chemical industry.
▍ “double carbon” Dongfeng is getting stronger, and the commercial large-scale speed-up cycle of green hydrogen has reached
At present, most of the raw materials for hydrogen production are fossil energy, and the proportion of green hydrogen is relatively low. According to the data, in 2020, the source and proportion of hydrogen produced in China were 64% of coal, 21% of industrial by-products, 14% of natural gas and 1% of electrolytic water.
The hydrogen production path using electrolytic water includes alkaline electrolytic water (AEL), proton exchange membrane electrolytic water (pemel) and solid oxide electrolytic water (soel). Soel has high energy conversion efficiency, but it has not yet reached the stage of commercial application; The energy conversion efficiency of AEL is 10% lower than that of pemel, and the cost is reduced by 40 yuan / kg.
Green hydrogen is regarded as “the vanguard of deep decarbonization”. Goldman Sachs pointed out that green hydrogen has become a key pillar to achieve global net zero emissions. If it is necessary to achieve net zero emissions by 2030, it is expected to invest a total of $5 trillion in the green hydrogen supply chain Citic Securities Company Limited(600030) said that the annual output value of green hydrogen industry chain was about 12 trillion in 2050, which helped to improve the certainty of decarbonization in industries, power generation and other scenarios.
Under the “double carbon” goal, many institutions expect the promotion of green hydrogen to be more in-depth in 2022. On the one hand, with the increase of new energy power stations, the demand for energy storage may lead to the increase of some green hydrogen production projects; On the other hand, the demand for green hydrogen in the industrial field is also expected to increase Citic Securities Company Limited(600030) proposed that the cycle of commercial large-scale acceleration of green hydrogen has come, and hydrogen production from electrolytic water will start to explode in 2022
In the industrial chain, the development of upstream manufacturing is accelerated, and the technological progress and commercial scale development of downstream industry, chemical industry and power generation scenarios are also expected Huatai Securities Co.Ltd(601688) it is estimated that China’s renewable energy hydrogen production will reach 200000 tons in 2025, by then, the market space of the whole renewable energy hydrogen production equipment will reach 4.371 billion yuan. Electrolytic cell and proton exchange membrane are the investment directions that need to be paid close attention to
