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Green Hydrogen current and projected production costs

Updated: Oct 17, 2023



Determining the Cost of Green Hydrogen


Studies have found that there is significant variation in the cost of electrolyzer systems, ranging from USD 306/kW up to USD 4,748/kW. Thus, demonstrating the challenge of finding representative numbers for capital and operation costs of electrolyzers (Saba, et al., 2020). As such, these costs are determined based on the combination of projected overall costs of green hydrogen along with the estimated cost breakdown of electricity costs, CAPEX, and OPEX.


Work by Jeffers, et al. (2021) shows cost breakdown estimates for green hydrogen in 2020 and 2050, as tabulated in Table 1. Using these values, the cost breakdown percentiles of green hydrogen in 2030 and 2040 can also be determined through extrapolation. The cost breakdown for each decade is presented in Figure 1.


Green hydrogen cost breakdown estimates
Table 1 - Green hydrogen cost breakdown estimates

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