Statistics show that the high prices of natural gas in Europe currently have made it cheaper to produce green H2 from clean and renewable energy sources than it is to produce grey and blue H2, particularly from methane.
A ton of CO2 in the EU costs €60 ($69) a price that for now is the all-time high. What this implies is that the cost of producing blue H2 would be much higher than that of blueH2 although they are produced in the same way with carbon storage and capture.
These stats are already out there and the fact that they come from big names means that it will be something to watch over the coming months. In some illustrations and projections shared by Keynumbers, an Australian Company, there is evidence that producing green H2 today would be cheaper than producing greyH2 and blueH2 by €2.37 and €2.03 respectively.
But why does this matter? These costs reflect the rise in costs of other items, including operating expenditure, interest rates, carbon capture rates and other factors that are related to the cost of natural gas.
It is expected that with such trends taking shape, the transition to the hydrogen-powered economy will even get more attention. Big companies are already investing in projects that might soon make it easy for Europe and the whole world to significantly reduce the reliance on carbon-emitting energy sources.
With 2030 targets already set and a European commission to steer the efforts towards the realization of carbon neutrality in major sectors. But that’s not all! According to experts, the trends currently witnessed in Europe will change the talk about hydrogen from being a possible alternative to fossil fuels to an inevitable option.
There are no doubt other trends to watch now and soon.
