Green hydrogen could as soon as 2023 be competitive with grey H2 made using fossil fuels thanks to US wind power that’s as cheap as $5/MWh, said finance giant Morgan Stanley.
Steep falls in clean generation costs mean at $1.53/kg, hydrogen produced via electrolysis sited at “best in class” US renewable projects is already competitive with so-called blue H2, made using abated gas, said Morgan Stanley in a note to clients.
By 2023/24 continued falls in onshore wind costs that are already often as low as $20/MWh – and, crucially, a further extension to key renewable energy tax credits – could drive LCOE in regions such as Texas and the Midwest as low as $5-7/MWh.
Morgan Stanley’s analysts reckon that would make green hydrogen from wind competitive with new grey production “much sooner than appreciated” at about $1/kg - link
By 2023/24 continued falls in onshore wind costs that are already often as low as $20/MWh – and, crucially, a further extension to key renewable energy tax credits – could drive LCOE in regions such as Texas and the Midwest as low as $5-7/MWh.
Morgan Stanley’s analysts reckon that would make green hydrogen from wind competitive with new grey production “much sooner than appreciated” at about $1/kg - link
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