- A new survey places Germany’s hydrogen market capacity far beyond the initial projection.
New projections have placed hydrogen production at 27.8GW at the close of the decade. This figure, which is a realisation by the German Hydrogen and Fuel-Cell Association (DWV), is 17.8GW higher than earlier projections made by the German government.
The participants of the new study have projected that Germany, Europe’s largest economy, would be producing up to 72.33TWh of green hydrogen by 2030, an equivalent of EUR 13.16 billion in financial terms (USD 14.47bn). Given the current pace of hydrogen, the capacity could reach 16.25GW by 2025. The production of clean fuel could upscale to 42.33TWh, an equivalent of EUR 99.44 billion.
According to the Fraunhofer Institute for Solar Energy Systems (ISE), projections place the average cost of alkaline electrolysis (AEL) at EUR 553.5 paper kWac by 2025 and EUR 444 kWac by 2030. The proton exchange membrane electrolysis is projected to cost EUR 6110 per kWac by 2025 and EUR 502 per kWac by 2030. Going by the rising rate of natural gas prices, DMW revealed that the price of hydrogen is becoming more competitive. The results of the new survey have stimulated hopes the hydrogen market economy can be developed by 2030 in accordance with the plans of the federal government.
Companies involved in the survey include Siemens Energy AG, Elogen GmbH, ITM Power GmbH/Linde AG, MAN Energy Solutions SE, McPhy Energy Deutschland GmbH, Sunfire GmbH and ThyssenKrupp Nucera.