Hydrogen-powered future: Catalyzing energy transition, industry decarbonization and sustainable economic development: A review

Hydrogen, particularly in renewable forms like green hydrogen and biohydrogen, is critical for decarbonization and sustainable development. This review provides a comprehensive overview of the multifaceted role of hydrogen and its versatility in industrial applications, energy storage, and transportation while addressing its potential to mitigate greenhouse gas emissions. The PRISMA methodology was applied, systematically analyzing over 25,000 publications and reports from 2017 to 2024, focusing on cutting-edge production methods like electrolysis and biomass conversion. Hydrogen production processes are explored, including water electrolysis, a clean method powered by renewable energy, and biohydrogen routes utilizing biomass and organic waste through thermochemical and biological conversions. These innovations align with global decarbonization targets, reducing emissions in hard-to-abate sectors like steel and aviation. The study also highlights hydrogen's evolving global market, with investments exceeding USD 680 billion and expanding project portfolios in Europe, North America, and Asia. Green finance, via tools like green bonds and sustainability-linked loans, is identified as essential for scaling hydrogen technologies. By integrating environmental, social, and governance (ESG) principles, hydrogen projects ensure socio-economic benefits, including job creation and reduced reliance on fossil fuels. Moreover, hydrogen is projected to reduce CO2 emissions by 6.5% by 2050, making it a key element in climate strategies. In conclusion, this study offers a thorough overview of hydrogen's role in achieving net-zero emissions. Its findings highlight the important interplay between technological innovation, market dynamics, and sustainable finance, providing actionable insights to aid in policy formulation and strategic decision-making. By harnessing hydrogen's potential, society can advance the energy transition and promote a resilient, low-carbon future.