Economic and Social Impacts of Hydrogen Energy: East Asia Summit Region Case Study

  Objective  As hydrogen energy has gained new momentum recently, analyzing the economic and social impacts of developing a hydrogen energy sector can inform further policy formation and investment decision making in this regard.

  Method  Considering the increasingly important role of East Asia Summit (EAS) region in both economic growth and green energy transition, we developed a demand-driven model for the hydrogen energy supply chains to comprehensively and quantitatively evaluate the economic and social impacts hydrogen energy development in the EAS region.

  Result  This model provides estimates of the capital investment required, the number of new jobs created, the potential carbon emissions reduction, the subsidies needed in the early stages of development, and the impacts on key energy security indicators.

  Conclusion  We find that hydrogen energy development has a significant job creation effect, and that the total investment the fiscal burden appear to be manageable for countries in the EAS region. In addition to substantial carbon emissions reduction, positive social impacts also include general improvements in energy security indicators.