Unlocking the Potential of Green Hydrogen through Digital Solutions and Cost Efficiency
Key Ideas
  • GlobalData analysis forecasts a substantial expansion of green hydrogen capacity, aiming to compete with fossil fuels by decreasing production costs.
  • International Energy Agency projects a significant drop in Levelized Cost of Hydrogen by 2030, making green hydrogen cost-competitive with grey hydrogen.
  • Efficiency and cost management through digital solutions are vital for advancing green hydrogen technology and reducing production costs.
  • While government support is essential, facility operators can leverage data analytics and industry partnerships to optimize processes and lower green hydrogen production costs.
The green hydrogen sector is poised for significant growth, with a forecasted total capacity of 175 million tonnes per annum. This expansion is underpinned by the decreasing Levelized Cost of Hydrogen (LCOH), aiming to make green hydrogen competitive with fossil fuel-derived hydrogen. Digital solutions are emerging as key tools to drive efficiency and manage costs in green hydrogen facilities. However, a major challenge remains in rapidly upscaling unproven technology in the sector, necessitating a shift from reliance on subsidies to sustainable cost reduction strategies. Worley's Green Hydrogen Center of Excellence underscores the importance of reducing production costs to ensure long-term competitiveness with fossil fuels. By leveraging data analytics and innovative solutions like the Asset Optimization Center (AOC), operators can tackle inefficiencies and optimize green hydrogen production. The AOC, developed in collaboration with industry leaders like IBM and ABB, offers real-time insights to enhance operational efficiency, address challenges in green Power-to-X assets, and ultimately drive down the cost of green hydrogen production.
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