Green Hydrogen Costs of Production to Drop to US$2.5/kg by 2030, and US$1.80 by 2040, Clearing the Way for Heavy Industry Decarbonization

Electrolyzer producers, including ITM Power, Plug Power, Siemens Energy, LONGi,Peric, Thyssenkrupp, and Green Hydrogen Systems, are driving a significant proportion of the CAPEX decline. Supporting technology vendors, such as Danfoss, Schneider Electric, and SunGreen H2, will play a key role in reducing OPEX costs. As for green hydrogen producers, Linde, Shell, Adani Energy, Sinopec, Equinor, and ENI will be vendors to watch as plants reach maturity.

Heavy industries' adoption of green hydrogen will be fundamental to meeting sustainability commitments and net zero targets at the company, national, and regional levels. For aviation, steel, shipping, chemical, and petrochemical industries under pressure to decarbonize, cost is crucial in shaping demand for H2. "The success of projects depends largely on how accurately these costs can be predicted. Subsequently, heavy industry vendors must be keenly aware of when green LCOHs will be reached, and where—and at what time—demand in specific markets will develop," Burge concludes.

These findings are from ABI Research's The Economic Viability of Green Hydrogen for Industry and Enterprises report. This report is part of the company's Smart Energy for Enterprises & Industries research service, which includes research, data, and ABI Insights.

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