Rising Application of Fuel Cell for Powering Systems Lead to Their Increased Demand Advantages of Fuel Cells

A fuel cell utilizes the chemical energy of hydrogen or other fuels for cleaning and electricity production. If hydrogen is used as fuel, then the only products are water, electricity, and heat. Considering the wide applications of fuel cells, they can be utilized for powering systems ranging from large to small, such as utility power stations and laptop computers.

The fuel cell industry has garnered $1,799.9 million revenue in 2021, and it is projected to generate $23,743.4 million revenue, advancing at a rate of 33.2% from 2021 to 2030.

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The major factors that propel the industry growth include economic benefits, and stimulus packages that fuel green technology infrastructure, increasing carbon emissions from industries, and power stations, and low cost of hydrogen fuel cell vehicle ownership.

Advantages of Fuel Cells

Fuel cells provide numerous benefits over conventional combustion-based technologies currently being used in various power plants and vehicles. These cells can function at higher efficiencies compared to combustion engines. They can convert chemical energy into electrical energy with an exceeding efficiency of 60%.

Fuel cells cause lower or zero emissions, compared to combustion engines. Hydrogen fuel cells release water only, as they do not cause any carbon dioxide emissions.

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The major fuel cell companies operating in the industry are:
1- PLUG POWER ENERGY INC.
2- Bloom Energy
3- Doosan Fuel Cell America Inc.
4- Ceres Power Holdings Plc
5- Nuvera Fuel Cells LLC
6- Toshiba Energy Systems and Solutions Corporation
7- SFC ENERGY.

Therefore, the rising environmental concerns fuel the demand for fuel cells.

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