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Energy diversification, when based on renewables, can eliminate emissions and fulfil climate pledges. Green hydrogen uptake, of course, would reduce the need for carbon capture by simply providing cleaner energy. Yet significant barriers remain. Green hydrogen costs, on average, between two and three times more to make than blue hydrogen, with the true potential and viability of the latter requiring further investigation. With electricity input accounting for much of the production cost for green hydrogen, falling renewable power costs will narrow the gap. Attention, meanwhile, must shift to the second-largest cost component, electrolysers. This report explores strategies and policies to drive innovation, cut costs for electrolysers and make green hydrogen a least-cost solution wherever needed. With larger production facilities, design standardisation and insights from early adopters, the proposed strategies could cut costs by 40% in the short term and up to 80% in the long term, this study finds. In price terms, the resulting green hydrogen could fall below USD 2 per kilogram mark – low enough to compete – within a decade. This opens the way for large- scale manufacturing capacity, new jobs and economic growth Already, green hydrogen’s improving cost projections represent an amazing step forward; until just a few months ago, such results were not expected before mid-century. But getting there depends on defining the right business model, creating markets, and optimising the supply chain in a way that both developed and developing countries, equally, can enjoy the transition to a clean, resilient energy system. Just as I hope 2021 will be a better year for humanity, I hope these findings will help to inspire the necessary action on green hydrogen. IRENA stands ready to help its member countries worldwide, whatever their energy challenges or level of economic development, make the leap. Francesco La Camera Director-General, IRENAPDF Image | GREEN HYDROGEN SCALING UP ELECTROLYSERS
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