New report from data and analytics giant IHS Markit says green hydrogen could be cost competitive by 2030.
Produced by electrolysis – a process that uses electricity to split water into hydrogen and oxygen, green hydrogen is rapidly developing from pilot to commercial scale operation in many parts of the word, analysis by the IHS Markit Hydrogen and Renewable Gas Forum found.
“Costs for producing green hydrogen have fallen 50% since 2015 and could be reduced by an additional 30% by 2025 due to the benefits of increased scale and more standardised manufacturing, among other factors,” said Simon Blakey, IHS Markit Senior Advisor, Global Gas.
“The work that we have done for the IHS Markit Hydrogen Forum very much focuses on economies of scale as a way of reducing costs, developing dedicated renewables in order to get the load factor on the electrolyser up and, of course, continued expectations of falling costs for renewables.”
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