Dive Brief:
The sudden growth of green hydrogen since 2020 could cut the cost of the resource to less than $2 kilogram as soon as 2040 in most markets, according to recent analysis by Wood Mackenzie.
Hydrogen fuel cells are already cost-competitive with lead-acid batteries used in the forklift market. Green hydrogen from renewable energy may be economic for use in long-haul trucking as soon as 2025, according to separate research from Morgan Stanley.
Supply chain constraints in natural gas markets are poised to spur broad adoption of hydrogen in Europe, according to Bridget van Dorsten, a hydrogen research analyst at Wood Mackenzie. The firm expects to see hydrogen co-fired with coal and natural gas in the 2030s and beyond, with the power sector accounting for 31% of hydrogen demand by 2050.
Dive Insight:
After several…