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According to Anadolu News on June 11, Wood Mackenzie, a global energy consulting company, said on Wednesday that it is assumed that the electricity price per megawatt hour by 2030 is US$30.
By 2028-2033, green hydrogen will Can compete with fossil fuels
.
Ben Gallagher, principal analyst at Wood Mackenzie, said that in the past 18 months, an increasingly active low-carbon hydrogen market has witnessed government support, corporate commitments, announced projects, and even the interest of bystanders
.
He said that this activity is equivalent to a paradigm shift, turning green hydrogen produced by the use of renewable energy to electrolyze water as a key element of the energy transition
.
Gallagher said that increasing attention to net-zero targets is in favor of green hydrogen
.
Gallagher pointed out: "Last year we saw the decisive fulcrum of global decarbonization, which is very positive for zero-carbon technology
.
" Japan, South Korea and Canada recently announced net zero emission reduction targets, as well as the United States' renewed commitment to the Paris Agreement.
Since green hydrogen is a major beneficiary, Gallagher said that electrolytic low-carbon production now accounts for 67% of the entire hydrogen pipeline
.
Gallagher said that the European Union’s green recovery package announced last year earmarked 150 billion euros for green hydrogen
.
He said: "This financial commitment is accompanied by specific targets for electrolyzer capacity-between 2020 and 2024, the first phase will have an installed capacity of 6 GW, and the second phase by 2030 will have an installed capacity of 40 GW
.
"
Gallagher said the direct result is that Europe is currently driving growth, accounting for 79% of the entire low-carbon hydrogen pipeline
.
However, he warned that this dominance will be temporary, as 17 countries including Japan, South Korea, and Canada have announced a hydrogen strategy, roadmap or vision that is in line with the global trend towards net-zero goals.
He said that after the decline in pandemic-related investments in the second and third quarters of 2020, investment in low-carbon hydrogen has risen again.
In the first quarter of 2021 alone, investment in the hydrogen market will reach at least US$4.
5 billion, and announced 55 Items
.
The ability to manufacture larger electrolyzers that can produce green hydrogen on a large scale is a key factor in the rapid expansion of the industry
.
Gallagher said that this also has the usual advantages of scale in terms of cost reduction
.
"Our own estimate is that if the electricity price in 2030 is $30/MWh, by 2028-2033, green hydrogen will compete with fossil fuels
