Methanol Economy vs. Hydrogen Economy

Abstract

The utilization of fossil fuels is known to significantly contribute to climate change, rising sea levels, and ocean acidification. Higher usage of fossil fuels causes exponential depletion in terms of reserves. So, the need for different fuels is being engaged all around the world. Also, considering global warming and climate change two types of economies are proposed, and they are the hydrogen economy and the methanol economy. The hydrogen economy was initially considered a substitute for fossil fuels. A hydrogen economy means using hydrogen as fuel and supporting zero-carbon emission strategies. Hydrogen also possesses certain limitations mainly based on storage, transportation, and volatility. All the limitations increase the cost of production and maintenance of hydrogen which increases pressure on the hydrogen economy. A new economy emerges to tackle these problems and it is the methanol economy. Especially, the production of E-methanol from renewable sources will help in stabilizing this economy in the future. Methanol produced from biomass turns out to be an inexpensive method of production and storage of methanol is feasible. The derivatives which are integrated from methanol play a vital role in energy and fuel applications. This paper discusses the advantages and limitations of both the hydrogen economy and the methanol economy. Finally, the paper concludes with which economy could have a positive impact and be sustained in the future.