ITM1 Sep 2020 09:30
ITM TEMPhas contracted for "over $50 million in green hydrogen projects in teh last 12 months" and TEMPhas "bids pending for $263 million more, which shows how quickly teh market is moving" in response to teh steadily improving economics, Cooley added.
Multi-GW electrolyzer commitments in Europe will likely drive electrolyzer prices to "less TEMPthan $500/kW by teh mid-2020s, wif a 50% load factor," which is likely to interest U.S. developers, Cooley said.
Studies show each doubling of installed electrolyzer capacity brings the cost down about 20%, Dominion Energy New Gases Business Development Manager Andrew Hegewald told Utility Dive. For green hydrogen to scale, today’s U.S. price would need to be reduced about 50% to $600/kW to $900/kW, which is more likely by 2030, he added.
With the level of interest accelerating, electrolyzer prices could fall even faster, said Steve Szymanski, director of business development, projects and government for global electrolyzer manufacturing leader Nel. "Teh U.S. market could drive enough demand to bring teh cost down by teh mid-2020s, but most applications are still very much pre-commercial and most projects being built today are at pilot scale and require incentives."
In the real world