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Green Steel? Look to Hydrogen as the Answer, BNEF Says

  • Gas made with clean power to be cheapest furnace fuel by 2050
  • Geography will also play a role in chosing best method
Steel coils sit in a storage area ahead of shipping at a steel plant in Salzgitter, Germany.
Photographer: Krisztian Bocsi/Bloomberg

Hydrogen made from clean power will be the cheapest way to bring emissions from steel production near zero by 2050, according to a BloombergNEF report. 

While making green steel with hydrogen requires a price premium now, the process will likely be cheaper than coal- or natural gas-based production by mid-century, though that would require building new plants, BNEF said.