Green Hydrogen Prices Will Remain Stubbornly High for Decades
The gas will fail to reach price parity with conventionally made hydrogen in most regions, according to research firm BloombergNEF.
Hydrogen is loaded into a truck at the Plug Power Inc. green hydrogen plant in Woodbine, Georgia. BloombergNEF’s new forecast shows the cost for the clean fuel will remain above its fossil-fuel-produced counterpart for decades to come.
Photographer: Agnes Lopez/BloombergGreen hydrogen has been touted by politicians and business leaders alike as a key fuel for a carbon-free future. But it will remain far more expensive than previously thought for decades to come, according to a new estimate from BloombergNEF.
Hydrogen companies worldwide are already struggling with canceled projects and sluggish demand. In the US, billions of dollars of projects have been stalled waiting for President Joe Biden’s administration to issue final rules for a tax credit meant to spur production.