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Figure 2 GREEN HYDROGEN COST REDUCTION Due to the efficiency of the current process, any power cost that goes into the process translates into roughly 1.5 times this value in final production costs. This means that a power cost of USD 20/MWh results in around USD 31/MWh in the final cost of the hydrogen, or a figure slightly above USD 1/kg H2. Under the optimal conditions of low-cost renewable electricity, low investment cost (achievable through the strategies suggested in this report) and a high number of operating hours, green hydrogen could achieve cost competitiveness with fossil-based hydrogen, noting that only about 3000-4000 hours per year may be enough to achieve the largest reduction in the contribution of the investment. This can be achieved by, for instance, large scale hybrid PVwind plants, which, at the best locations in the world, can achieve capacity factors above 5000 hours. Currently, green hydrogen production is limited to demonstration projects. By September 2020, there were almost 320 of these, adding up to around 200 MW of electrolyser capacity (IEA TCP). Green hydrogen (through water electrolysis) contributed to less than 0.02% of presentday global pure hydrogen production. Projects are mostly in the single-digit MW scale with the largest project in operation currently a 10 MW alkaline electrolyser in Japan. A 20MW PEM electrolyser in Becancour (Canada) by Air Liquide is expected to be operational before the end of 2020. In spite of this small scale, the technology is already commercial and ready to scale up, with projects announced between 2020 and 2025 adding up to more than 25 GW and new projects being announced on almost a weekly basis (see Chapter 5, Section 2). Figure 2 Figure 1. 7,0077 7,007 6,0066 6,006 5,0055 5,005 4,0044 4,004 3,0033 3,003 2,0022 2,002 1,001 1 1,001 0,000 0,001 1 974 1947 2921 3894 4867 5840 6814 7787 8760 974 1947 2921 3894 4867 5840 6814 7787 8760 1,011 1 0,0 0,0 1 974 1947 2921 3894 4867 5840 6814 7787 8760 Hydrogen production cost as a function of investment, electricity price and operating hours. Operating hours Operating hours Operating hours Operating hours Ellecttrrollyserr systtem cost (USD 770/kW) + fifixed costs Electrolyser system cost (USD 770/kW) + fixed costs Ellecttrrollyserr systtem cost (USD 500/kW) + fifixed costs Electrolyser system cost (USD 500/kW) + fixed costs Ellecttrrollylyseserer srsysyttesemtmemcoscto(sUtS(DU2S0D0/2k0W0)/+kWfifixe)ed+cfioxstetsd costs Ellecttrriiciciititytyyprpriicrceiec(e(20(02U0SDUD/SMDW/Mh)Wh) Blluehydrroroogegenencocstotrsratnrgaenge Note: Efficiency at nominal capacity is 65% (with an LHV of 51.2 kWh/kg H2), the discount rate 8% and the stack lifetime 80 000 hours. Based on IRENA analysis. 7,0 7,707 6,0 6,606 6 5,0 5,505 5 4,0404 4 3,03 2,02 2 1 974 1947 2921 3894 4867 5840 6814 7787 8760 ElEelcetcrtorolylysser systemccoosts(t2(020U0SUD/SkDW/)kW+ fi)x+edficxoesdts costs Electrolyser system cost (200 USD/kW) + fixed costs ElEelcetcrtircicitityyprice::USSDD101/0M/WMWhh Electricity price: USD 10/MWh ElEelcetcrtircicitityyprice::USSDD202/0M/WMWh h Electricity price: USD 20/MWh ElEelcetcrtircicitityyprice::USSDD440/0M/WMWh h Electricity price: USD 40/MWh BlBuleuehhyyddrrogen cossttrarangnege Blue hydrogen cost range 18 Hydrogen production cost (USD/kg) HyrogHeydnropgroendpurcotdioucntiocnocsots(tU(USSD/kg) Hyyrrooggeennpprroodduuccttioionnccoosstt((USSD//kkgg)) HyrroHgHgyeyedednrnroopgpgreroeonondpdpururococdtdtiuioiuococntnitoiocncnoccsosottstst(t(U(USD/kgkg)g)PDF Image | GREEN HYDROGEN SCALING UP ELECTROLYSERS
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