In a new piece of research, BloombergNEF (BNEF) finds that the levelized cost of hydrogen (LCOH 2 ) made from renewable electricity is set to fall faster than it previously estimated. BNEF now forecasts that green hydrogen from renewables should be cheaper than natural gas (on an energy-equivalent basis) by 2050 in 15 of the 28 markets modeled, assuming scale-up continues. These countries accounted for one-third of global GDP in 2019. In all markets modeled, BNEF found that green hydrogen should get cheaper than both blue hydrogen (from fossil fuels with carbon capture and storage – CCS) and even polluting grey hydrogen from fossil fuels without CCS. According to the BNEF forecast, the costs of producing green hydrogen from renewable electricity should fall by up to 85% from today to 2050, leading to costs below $1/kg ($7.4/MMBtu) by 2050 in most modeled markets. These costs are 13% lower than […]