Hydrogen produced with renewable electricity could compete on costs with fossil fuel alternatives by 2030, according to a new report from the International Renewable Energy Agency (IRENA). A combination of falling costs for solar and wind power, improved performance as well as economies of scale for electrolyzers could make it possible. A combination of cost reductions in electricity and electrolyzers, combined with increased efficiency and operating lifetime, can deliver 80% reduction in green hydrogen cost. Source: IRENA The report— Green Hydrogen Cost Reduction: scaling up electrolyzers to meet the 1.5 C climate goal —looks at drivers for innovation and presents strategies that governments can peruse to reduce the cost of electrolyzers by 40% in the short term and by up to 80% in the long term. Green hydrogen could play a critical role in decarbonization strategies, particularly so where direct electrification is challenging in harder-to-abate sectors, such as steel, […]