You can't ship things in steel vessels overseas because steel rusts in contact with water, especially salty water. See what I did there?
> distribution costs
What about distribution costs? Hydrogen can replace natural gas. Wherever you have a gas burning powerplant, you can retrofit it to burn hydrogen. The tanks that store gas for that plant can be modified to hold hydrogen. Whatever distribution costs are incurred for natgas will be incurred by hydrogen. Some will go up, some down, but not by orders of magnitude.
> sheer loss of efficiency
As opposed to what? In a world powered by solar and wind, you'll have times (lots of times) when you generate more than you consume. The least efficient option is to just not generate. Generating electricity and converting it to hydrogen, and then the hydrogen back to electricity at a later time may or may not be economically profitable. In the cases where the economics will work out, people will do that, where it won't people won't do it. But the economics will always be against batteries for long term storage, except if by some miracle batteries will get to be 100 times cheaper (not a mistake, 100).
Other chemical storage solutions (ammonia, methanol, ethanol, lithium hydride) need one extra step that will be very expensive. There are slight chances for one of those to make sense, but my bet is that they won't. Why? Because both Europe and Japan are betting very, very big bucks on hydrogen.
You can't ship things in steel vessels overseas because steel rusts in contact with water, especially salty water. See what I did there?
> distribution costs
What about distribution costs? Hydrogen can replace natural gas. Wherever you have a gas burning powerplant, you can retrofit it to burn hydrogen. The tanks that store gas for that plant can be modified to hold hydrogen. Whatever distribution costs are incurred for natgas will be incurred by hydrogen. Some will go up, some down, but not by orders of magnitude.
> sheer loss of efficiency
As opposed to what? In a world powered by solar and wind, you'll have times (lots of times) when you generate more than you consume. The least efficient option is to just not generate. Generating electricity and converting it to hydrogen, and then the hydrogen back to electricity at a later time may or may not be economically profitable. In the cases where the economics will work out, people will do that, where it won't people won't do it. But the economics will always be against batteries for long term storage, except if by some miracle batteries will get to be 100 times cheaper (not a mistake, 100).
Other chemical storage solutions (ammonia, methanol, ethanol, lithium hydride) need one extra step that will be very expensive. There are slight chances for one of those to make sense, but my bet is that they won't. Why? Because both Europe and Japan are betting very, very big bucks on hydrogen.