According To A Report $200B Required To Switch To Hydrogen Fuel
There is vast possibility as according to the analysts of ending the dependence of United States as well as global countries on Petrol and switching to the mode of Hydrogen Powered vehicles, however, a recent report of the National Academics of Science has revealed realization of this hypothesis to be far from being achievable.
In the report entitled as, “Transitions to Alternative Transportation Technologies: A Focus on Hydrogen,” as according to the National Academics of sciences it would took nearly an exaggerated amount of $200 billion as for completely transforming from oil to hydrogen fuel on steps like R&D, vehicle deployment, and needed infrastructure. The share of said amount at $55 billion is put on government for time period spanning between 2008 and 2023 and the private investment is incurred around $145 billion for the same time frame and period of time.
Despite the initial level of research into the development of fuel cell and hydrogen production technology there are certain barricades like cost of vehicles and lack of infrastructure that are first required get solve for a proper distribution of it to a customer. Yet these problems can be overcome with the help of R&D and support of the automotive industry. As further stated in the report hydrogen-powered vehicles will make a positive impact within the warehouses and distribution centers for lift trucks, forklifts, and turret trucks, among other vehicles, yet there a lot of work is yet needed to be done.
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