Global Hydrogen Trade to Meet the 1.5°C Climate Goal: Green Hydrogen Cost and Potential
Hydrogen is an essential component of a net zero energy system and has a key role to play in decarbonising sectors that are difficult to electrify, such as heavy industry and long-haul transport.
Vast green hydrogen potential exists around the world, equating to more than 20 times global primary energy demand in 2050. However, the potential within specific countries or regions depends on the land available.
This report estimates the potential for green hydrogen production as a function of land availability, considering exclusion zones such as protected areas, forests, wetlands, urban centres, slope and water scarcity. It forms part of a series of three reports focusing on global hydrogen trade in a 1.5°C scenario in 2050.
The higher cost of green hydrogen compared to fossil fuels has posed a significant challenge to the deployment of green hydrogen. Various time horizons and scenarios are therefore explored in this report. In the most optimistic scenario, production costs could reach levels of USD 0.65/kgH2 by 2050 in the best locations, while reaching levels of USD 1.15/kgH2 in less optimistic cost assumptions.
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