fuel cell market continues strong growth

19/12/2013 Another growth study in the USA

The Energy Department released three new reports today showcasing strong growth across the U.S. fuel cell and hydrogen technologies market - continuing America's leadership in clean energy innovation and providing U.S. businesses more affordable, cleaner transportation and power options. According to these reports, the United States continues to be one of the world's largest and fastest growing markets for fuel cell and hydrogen technologies. In 2012, nearly 80 percent of total investment in the global fuel cell industry was made in U.S. companies.

"Building a U.S. fuel cell and hydrogen technologies industry over the past few years is helping to pave the way to a cleaner, more sustainable energy future that protects our air and water, gives businesses more transportation options and reduces oil dependence," said Energy Secretary Ernest Moniz. "As part of an all-of-the-above energy approach, fuel cell technologies are paving the way to competitiveness in the global clean energy market and to new jobs and business creation across the country."

With support from the Energy Department, private industry and the Department's national laboratories have already achieved significant advances in fuel cell and hydrogen technologies - reducing costs and improving performance. These research and development efforts have helped reduce automotive fuel cell costs by more than 50 percent since 2006 and by more than 30 percent since 2008. At the same time, fuel cell durability has doubled and the amount of expensive platinum needed in fuel cells has fallen by 80 percent since 2005.

Building on this progress, the Energy Department awarded over $7 million earlier this week to help bring cost-effective, advanced hydrogen and fuel cell technologies online faster. The three Energy Department reports issued today detail continued strength in the U.S. fuel cell and hydrogen technologies market as well as efforts by U.S. businesses and states to increase American competitiveness in this growing global industry.

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http://www.pddnet.com/news/2013/12/fuel-cell-market-production-deployment-continues-strong-growth