The falling cost of making hydrogen from wind and solar power could cut greenhouse gas emissions by 34% in fossil fuel dependent sectors of the economy, such as steel, heavy-duty vehicles, shipping and cement, according to new research by BloombergNEF (BNEF).
The 'Hydrogen Economy Outlook' found that the cuts are possible at a manageable cost, but this will only happen if policies are put in place to help scale up technology, and drive down costs.
Green hydrogen could be produced for $0.8 to $1.6 kilogram in most parts of the world before 2050, the report said.
BNEF said this price is equivalent to gas priced at $6-12/MMBtu, making it competitive with current natural gas prices in Brazil, China, India, Germany and Scandinavia on an energy-equivalent basis - link
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