Updated Manufactured Cost Analysis for Proton Exchange Membrane Water Electrolyzers
Enabling rapid and extensive decarbonization within the electric power and industrial sectors is likely to require high levels of renewable energy deployment, supported by technologies that store and transform renewable electricity into other useful forms. Within hard to decarbonize sectors such as organic chemicals and heavy-duty transportation, the use of low-carbon intensity hydrogen as a fuel and chemical building block is emerging as a near-term alternative to reduce their fossil-fuel dependency. Water splitting electrolysis to produce hydrogen requires only water and electricity as inputs, eliminating the use of natural gas in steam methane reforming, which is the conventional hydrogen production pathway. When powered by low-carbon electricity, electrolysis represents an important pathway towards cross-sectoral decarbonization.