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SCALING UP ELECTROLYSERS TO MEET THE 1.5°C CLIMATE GOAL Top producers of critical materials in electrolysers. Figure 24. 100 % 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% Source: European Commission, 2020. In terms of cost, the market for iridium is relatively small (7-7.5 t/year), illiquid and subject to high price volatility (European Comission, 2020). The ratio between the highest and lowest price over the last 20 years is approximately 15 times. The highest price was in 2019, with USD 1480 per troy ounce, which is equivalent to about USD46/kW (considering an iridium content of 1g/kW). Furthermore, in the 2016-2018 period, the market was undersupplied (European Comission, 2020), which created an upward pressure on price, with this potentially boosted further by a step demand increase coming from electrolysers. For platinum, the market is larger than iridium, but the price volatility is still high, with a ratio of five times between the highest and lowest price over the last 20 years. The peak price in that period was just before the 2008 financial crisis, when it was USD 2000 per troy ounce, which would be equivalent to almost USD 60/kW (with an iridium content of 1 g/kW), while more recently the price has stayed in the USD 800-1 000 per troy ounce range. Pt Co Ni Ir Ta Gd Zr La Ce Y South Africa Russia Zimbabwe Congo China Canada Japan Rwanda Brazil Australia Germany There are three main strategies to reduce dependence on critical materials (Van Berkel et al., 2020): Prevention or reduction of use: This covers substitution of the materials, reducing their amount per unit of installed capacity, or varying the technology mix to achieve a lower use overall (e.g. more alkaline instead of PEM that uses iridium). There are various options being investigated: Use of high surface area supported catalysts – for example, titanium or tin oxide supports (Babic, 2017). Increase the catalyst surface area through improved catalyst manufacturing techniques, for example using nanostructured thin film catalysts. Use a thinner layer of coating material, for example through atomic layer deposition. Reengineer the electrode concept. For example, support nanoparticles of iridium on high conductive semi-conductor oxides, alloy iridium to other transition metals, change the morphology of the electrode and shape the nanoparticle of iridium. 69 Fraction of global mining supply (%)PDF Image | GREEN HYDROGEN SCALING UP ELECTROLYSERS
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