NEWS COMMENTARY

Nel sets $1.5/kg target for green hydrogen by 2025

Published:
January 25, 2021
Coverage:
Owning the Energy Transition More...
Activities:
Strategy
Average importance

The announcement was made in a call to investors as the company outlined plans to expand electrolyzer manufacturing capacity to 2 GW in the near future. While it makes for an eye-catching headline, it is worth pointing out that Nel's target relies on the assumption of securing electricity at prices of less than $20/MWh. While there is no doubt that expanded manufacturing capacity will lower system costs, there are very few places in the world where such low renewable electricity prices can be obtained. Such broad cost targets are often meaningless, as green hydrogen costs will always vary by factors like electricity price, project capacity, and location.

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