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Newly proposed green hydrogen projects are on the
rise globally, driven by the post-pandemic green stimulus package.
According to research by Rystad Energy, the global pipeline of utility-scale green hydrogen development projects with a capacity of more than 1 MW now exceeds 60 GW, with 87% of the electricity coming from gigawatt-scale projects
.
The Green Hydrogen Project is a hydrogen electrolysis project
driven by renewable energy.
These projects are currently in the planning phase
across continents.
However, Europe and Australia dominate the global pipeline
with 11 proposed electrolysis projects of 1 GW or more.
"Despite the growing number of pipelines, we predict that less than half of the capacity (30 GW) will be operational by 2035, as developers will need to reduce production costs," said Gero Farruggio, head of Renewable Energy at Rystad Energy.
”
Solar and onshore wind power most hydrogen electrolysis projects worldwide
.
Only five offshore wind farms can power
large projects, the study said.
"The capital expenditure (CAPEX) required for onshore wind and photovoltaic (PV) has declined significantly in recent years, which is a key price factor
in reducing the average cost of hydrogen.
Notably, capital expenditures for utility PV have declined from $4/W in 2011 to $0.
75/W
in 2020.
As a result, solar PV powers several pioneering hydrogen projects
.
Conversely, offshore wind offers higher capacity, but at a higher
price.
”
Another recent study suggests that hydrogen produced by solar-powered devices could be cheaper
within a decade than fossil-fuel-based production methods.
Newly proposed green hydrogen projects are on the
rise globally, driven by the post-pandemic green stimulus package.
According to research by Rystad Energy, the global pipeline of utility-scale green hydrogen development projects with a capacity of more than 1 MW now exceeds 60 GW, with 87% of the electricity coming from gigawatt-scale projects
.
The Green Hydrogen Project is a hydrogen electrolysis project
driven by renewable energy.
These projects are currently in the planning phase
across continents.
However, Europe and Australia dominate the global pipeline
with 11 proposed electrolysis projects of 1 GW or more.
"Despite the growing number of pipelines, we predict that less than half of the capacity (30 GW) will be operational by 2035, as developers will need to reduce production costs," said Gero Farruggio, head of Renewable Energy at Rystad Energy.
”
Solar and onshore wind power most hydrogen electrolysis projects worldwide
.
Only five offshore wind farms can power
large projects, the study said.
"The capital expenditure (CAPEX) required for onshore wind and photovoltaic (PV) has declined significantly in recent years, which is a key price factor
in reducing the average cost of hydrogen.
Notably, capital expenditures for utility PV have declined from $4/W in 2011 to $0.
75/W
in 2020.
As a result, solar PV powers several pioneering hydrogen projects
.
Conversely, offshore wind offers higher capacity, but at a higher
price.
”
Another recent study suggests that hydrogen produced by solar-powered devices could be cheaper
within a decade than fossil-fuel-based production methods.
