How Much Will Hydrogen-Based Power Cost?
The post How Much Will Hydrogen-Based Power Cost? appeared first on POWER Magazine.
Costs associated with 40 hydrogen technologies used in 35 applications, including for heat and power, could tumble dramatically over the next decade as the scale-up of hydrogen production, distribution, and equipment and component manufacturing continues. For some applications, hydrogen could become competitive with other low-carbon alternatives, and even conventional options. Those are key findings from an in-depth assessment of industry-provided hydrogen application costs that the Hydrogen Council—an international CEO-level advisory body—underscored in a Jan. 20–released report.
The findings offer an important glimpse at growing efforts to integrate hydrogen into the global energy framework. As part of concerted decarbonization goals, 18 governments (whose economies account for 70% of global gross domestic product) had developed detailed strategies for deploying hydrogen solutions, as of January. Industry, too, is paying attention to sharp improvements to cost drivers associated with “renewable” hydrogen production, and the versatile role hydrogen could play in future energy systems.…