- Press Releases
March 28 (Renewables Now) - The capacity for green hydrogen generation in Germany has the potential to grow to 27.8 GW at the end of the decade which is far above the federal government's target of 10 GW, according to a market survey conducted by the German Hydrogen and Fuel-Cell Association (DWV).
The participants in the study, which include DWV's member companies, estimate that Europe's largest economy could produce up to 72.33 TWh of green hydrogen in 2030, generating EUR 13.16 billion in revenue (USD 14.47bn).
By the middle of the decade, the country's capacity could reach 16.25 GW while production of the clean fuel is seen at up to 42.33 TWh with revenues reaching EUR 9.44 billion.
The average costs for alkaline electrolysis (AEL) are estimated at EUR 553.5 per kWac in the middle of the decade and at EUR 444 per kWac in 2030, according to the Fraunhofer Institute for Solar Energy Systems ISE. Electrolysis through the proton exchange membrane (PEM) technology is expected to cost EUR 610 per kWac in 2025 and fall to EUR 502 per kWac five years later.
DWV noted that the price of green hydrogen is becoming more competitive against the background of the sharp increase in natural gas prices. The results of the survey fuel hopes that a green hydrogen market economy can be developed by 2030 as the federal government plans, the association said further.
The companies that took part in the survey include Siemens Energy AG (ETR:ENR), Elogen GmbH, ITM Power GmbH/Linde AG, MAN Energy Solutions SE, McPhy Energy Deutschland GmbH, Sunfire GmbH and ThyssenKrupp Nucera.
(EUR 1 = USD 1.100)