News, 12 November 2024
Amitabh Kant, former CEO of NITI Aayog, Govt of India, at a recently held conference in New Delhi emphasised on becoming a cost-effective producer of green hydrogen and need to bring down the cost of one kilogram of green hydrogen down to $1 by 2030.
Amitabh Kant also emphasized the wider advantages of India’s shift to a circular economy, emphasizing its favorable effects on job creation, economic expansion, and environmental preservation.
Presently cost of green hydrogen is around $3.7 per kg in the United States through centralized production methods; and $5.6 per kg in the European Union, reflecting the higher energy and infrastructure costs in that region.
Several key factors influence green hydrogen production costs. Some of them are: Energy Source Costs, Electrolyzer Technology, Scale of Production, Infrastructure and Transportation, Government Policies and Incentives, Market Demand, Application and End-Use, Investment and Financing Costs
