Fuel cells are solid-state electrochemical energy conversion devices that convert hydrogen-rich chemical fuels (natural gas; hydrogen; propane; ammonia) into electricity, heat and steam.
Fuel cells use a scalable and modular design architecture to gain tremendous versatility in applications from handheld portable power, to larger units found in transportation and stationary power used in factories, data centers, residential homes and megawatt sized power parks.
In the late 1990s fuel cells were over-sold and hyped alongside Dotcom enthusiasm. In recent years the science, engineering and business models have made tremendous progress. Improved industry learning curves and falling production cost curves, and increased demand for reliable distributed electricity production have set the stage for fuel cell industry growth over the next decade.
Growth will be slow, steady — but unrelenting in challenging current business models and market realities for utilities, automakers, and portable device makers. The next five years will be an exciting phase for fuel cells finally coming to market. Analysts, customers and energy companies will be looking for revenues and respect.