Dive Brief:
Converting renewable energy to hydrogen as a means of long-term storage in the energy sector could hold the key to helping hydrogen achieve scale and move into the industrial mainstream, multiple experts agree.
Electrolysis costs have decreased 40% in five years, putting green hydrogen on track to achieve cost parity with hydrogen converted from fossil fuels, or blue hydrogen , according to Ajay Mehta, general manager for new energies research & technology at Shell, who spoke at a Tuesday panel hosted by GreenBiz.
Enel Green Power and other companies have begun plans for co-locating green hydrogen plants with renewable energy developments in the U.S., which according to IHS Markit is on tract to exceed $1 billion in hydrogen production within three years.