About the project
Energy companies in Norway are actively seeking opportunities to promote sustainability and align their businesses objectives with the Sustainable Development Goals (SDGs) by exploring the potential of the green hydrogen sector. Green hydrogen is considered a promising solution for Norway’s net-zero target by 2050, and therefore there is a strong push to promote its adoption. However, despite the technology’s availability and numerous benefits, commercialization has been hindered due to a lack of market. To overcome this challenge, it is important to understand and develop more markets for green hydrogen to provide reliable services to end-users.
This project aims to address challenges faced by the green hydrogen sector, including the electrification of different sectors versus the use of hydrogen, the availability of renewable energy to produce green hydrogen, and release of NOx upon combustion of hydrogen. Other challenges include infrastructure unavailability, lack of government incentives, and high capital costs. The biggest challenge for a sustainability company is to create a profitable business model from green hydrogen while also providing societal value.
The success of green hydrogen businesses is strongly dependent on market demand, government incentives, and synergies. Therefore, this thesis project aims to achieve the following objectives: (1) identify the factors that can affect the hydrogen business in Norway using PESTELE analysis, (2) evaluate the hydrogen market, and (3) map out customers for an economically sustainable business model for energy companies interested in the green hydrogen sector.
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Picture:
1: Scope of Green Hydrogen.
2: Norway Hydrogen Demand as Energy Carrier by sector.
Project members
Vinod Rani
About the client
Østfold University College
Supervisor
Gunnar Andersson, Østfold University College