Report - Finding the Sea of Green: Opportunity and Options for Shipping Green H2


London, July 30, 2021 -- This thematic report is designed to accompany the initiation of Global Energy Ventures (GEV). Using data from the Hydrogen Council (among other sources), Edison look at the potential demand for green hydrogen (H2) in South Korea and Japan and the economics of shipping it to these markets from Australia, a low-cost 'renewable superpower'. The authors then evaluate the advantages and disadvantages of various shipping technologies using data from GEV's scoping study.

Full report here and summary points below

  • Green hydrogen is likely to require policy support, particularly in the near term, to stimulate end-demand and bridge the cost gap. Key policy tools are likely to include subsidies, deployment targets, carbon taxes and co-ordinated infrastructure development.
  • Adoption is likely to focus on applications where its unique properties enable it to provide 'system value', advantages in range or functionality that cannot be provided by other low-carbon alternatives. The inherent losses and high cost make its widespread use a relatively inefficient and expensive way to supply energy in general.
  • The main challenge with green hydrogen currently is its cost. The Hydrogen Council estimates that, on average, green hydrogen currently costs more than $5.3/kg to produce, nearly four times more than the $1.4/kg cost of natural gas-based production (grey hydrogen).
  • While the costs are expected to fall 57% between 2020 and 2030 (8% per year) due to cheaper renewable electricity and electrolysers, the projected average cost (c $2.3/kg) by 2030 is likely to be a 30% premium to grey hydrogen assuming no carbon tax on grey hydrogen.

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Sukie Thomson

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