Energy consultant and certification body DNV GL has identified green hydrogen as one of the three breakthrough technologies in its Technology Outlook for the Power and Renewables Industry that will significantly accelerate the decarbonisation of industries.
DNV GL anticipates that green hydrogen can compete against blue hydrogen by 2030, and with the growing demand to scale-up the production of green hydrogen, the body expects that capital costs for electrolysers will reduce significantly.
According to DNV GL, electrolysis will become a common part of hydrogen supply somewhere between 2030 and 2035 depending on the following factors:
- Price of natural gas, which in turn is influenced by the cost of carbon dioxide emissions
- The duration of oversupply of variable renewable energy
- Expected cost reductions for the developments of electrolysers
As prices for green hydrogen decrease, DNV GL’s research shows that several countries are likely to implement it for heating applications to decarbonise their building sector.
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