Green Hydrogen Cost In-depth Analysis Report

Green Hydrogen Cost In-depth Analysis Report – Cheersonic

Green hydrogen is a clean and versatile energy source with the potential to meet 15% of global energy demand. But the current cost is quite high, and both the government and the public are trying to find room for cost reduction.

This report provides supplementary reference for green hydrogen investment and financing planning from the perspectives of green hydrogen cost status, cost forecast, and cost competitiveness, and draws the following conclusions:

1. The preparation of green hydrogen comes from electricity produced by renewable energy. It is characterized by being clean and widely used. It helps to achieve decarbonization of industries that are difficult to decarbonize. It is expected to account for 15% of the global primary energy supply by 2050.
2. According to our model forecast, green hydrogen costs $4.2 per kilogram in 2020, $1.9 in 2030, and $1 in 2050. Green hydrogen prices in sub-regions range from $0.8 to $1.3, with the Middle East/North Africa having the lowest price and Europe the highest.
3. Regions with large market potential and low cost will lead the first wave of green hydrogen development, and the frontrunners are likely to be Europe, the Middle East/North Africa and Australia.
4. The United States and China will catch up with the simultaneous development of green hydrogen and blue hydrogen to achieve self-sufficiency in hydrogen energy. The Middle East/North Africa, Australia and Western Latin America will be the hydrogen export hubs. Europe still mainly develops green hydrogen and superimposes imports to meet the demand for hydrogen energy.
5. The electricity cost of producing green hydrogen in 2020 will average $44/MWh, accounting for 56% of the total cost. The levelized cost of electricity will drop significantly in recent years, and then level off. The electricity cost in 2050 is expected to be US$17/MWh, accounting for 70% of the total cost of producing green hydrogen, so differences in electricity costs will directly lead to regional differences in green hydrogen costs.
6. By 2050, the sum of electricity cost and electrolyzer investment cost will account for half of the total cost reduction, and with the continuous optimization of conversion efficiency and load factor, the contribution can reach 17% of the total cost reduction.
7. In Europe, the break-even point of green hydrogen is expected to be the same as that of grey hydrogen and blue hydrogen by 2030, and it is expected to be the same as that of LNG and natural gas by 2040.
8. On the consumption side of hydrogen energy, green hydrogen will begin to be applied in the heating and heavy truck industries in 2020. By 2030, it is likely to be popularized and applied in mainstream industrial fields and transportation fields as a highly competitive energy source.

Cheersonic is the leading developer and manufacturer of ultrasonic coating systems for applying precise, thin film coatings to protect, strengthen or smooth surfaces on parts and components for the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications in construction and automotive.