Imported Hydrogen Can Beat EU Production Costs by 2030: Study
Apr 07,2024 | DAXTROMNSOLAR
According to a recent study, it is predicted that imported hydrogen will be able to surpass the production costs of hydrogen produced within the EU by 2030. The study suggests that the cost advantage of imported hydrogen will mainly come from countries with abundant renewable energy resources, such as Australia and Chile. These countries can produce hydrogen more cost-effectively due to their favorable climate conditions for renewable energy generation.
Imported hydrogen has the potential to play a significant role in the EU's efforts to reduce carbon emissions and transition to a greener energy system. Hydrogen is considered a clean energy source as it does not produce greenhouse gas emissions when used or produced through electrolysis using renewable energy sources. It can be used as a low-carbon fuel for vehicles or as a substitute for natural gas in industrial processes and heating systems.
However, it is important to note that this study's findings rely heavily on the assumption of declining production costs for both imported and domestically produced hydrogen. It is yet to be seen whether these cost reductions will actually materialize by 2030 and if the projected competitiveness of imported hydrogen will hold true.
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