Green hydrogen derived from renewables-powered water electrolysis is currently five to ten times more expensive than grey hydrogen produced from fossil fuels, but it can become cost-competitive through a combination of economies of scale, ever-lower renewables prices and a higher price on carbon.
With electrolysers in their infancy and still expensive, their potential for cost reductions is enormous. One only has to take a look at the PV market, where the price of solar panels fell by 76% between 2009 and 2017, to see what is possible.
