Hybrid RE Power Can Cut LCOE Of Green H2 Upto $4.3/kg By 2030: Report

Highlights :

  • Wood Mackenize report said that it forecasted production of 4 MT of low-carbon Hydrogen by 2030, accounting for around 5% of global production in India.
Hybrid RE Power Can Cut LCOE Of Green H2 Upto $4.3/kg By 2030: Report Hybrid Onshore Wind And Solar Could Cut LCOH To US$4.3/kg H2 by 2030

A latest report from Wood Mackenzie claimed that solar-wind hybrid energy can be used to bring down the cost of production of Green Hydrogen. Wood Mackenzie is a research organization that published reports on energy and related issues. The latest report was specifically talked about the roadmap of India’s renewable sector to achieve net-zero.

The Wood Mackenzie report said that India lacked solar wafer production capacity. This, according to the report can hindering India’s manufacturing ambitions and net zero goals.

In its report, titled ‘Chance of a lifetime: Can India show the developing world a unique path to net zero?’, the researchers raked up the issue of policy initiatives to foster growth in the domestic photovoltaic (PV) supply chain. The report claimed that hybrid solar and wind power could help to accelerate production of Green Hydrogen. But, it said that due to India’s dependence on solar imports, particularly for polysilicon, ingots/wafers, ancillaries and PV machinery, hinder such growth.

Realizing India’s Green Hydrogen

Sector-Wise Co2 Emission

Sector-Wise Co2 Emission

The Wood Mackenzie report found that Green Hydrogen could serve as an alternative fuel. It stated, “Low-carbon hydrogen is pivotal to decarbonizing India’s most challenging sectors. with a relatively high solar irradiance (1,200-2,300 KWh/m2/year) and wind speeds (4-6 m/s).”

The report said, “We estimate that India’s levelized cost of Hydrogen levelized cost of production/hydrogen (LCOH) produced from renewables offers a cost-effective, round-the-clock option when combined with battery storage.”

It added, “Hybrid onshore wind and solar could cut the LCOH to US$4.3/kg H2 by 2030, the second lowest in Asia after China. To incentivise this, the government has allocated US$2.1 billion through a three-year incentive scheme to reduce electrolytic hydrogen production costs by 10%. India’s hydrogen policy also allows developers to purchase renewable power from the grid with no transmission costs for 25 years.”

It predicted, “This will not be achievable unless India continues to ramp up its delivery of wind and solar power, however. Alongside decarbonisation, renewables must deliver 125 GW of clean power for India to hit its 5 Mt green hydrogen production target by 2030. We forecast that around 4 Mt of low-carbon hydrogen is likely to be operational by 2030, accounting for around 5% of global production.”

It claims that a requirement for much more will energy from Green Hydrogen. The report claimed, ‘India needs 55 Mt of Hydrogen to reach Net-Zero by 2050. Of this, we believe India has the potential to produce up to 35 Mtpa domestically, with the remaining supply met through imports.”

"Want to be featured here or have news to share? Write to info[at]saurenergy.com