Driving Efficiency and Growth in the Green Hydrogen Sector
Key Ideas
  • The green hydrogen sector faces challenges such as high production costs, operational inefficiencies, and difficulties in power forecasting.
  • Honeywell's Plant Design and Unified Control and Optimization systems aim to enhance plant efficiency, reduce costs, and address the hurdles in green hydrogen production.
  • The installed capacity of green hydrogen is expected to grow significantly from 1.1 GW in 2023 to an estimated 85 GW in 2028, with key regions for projects being China, Europe, India, Australia, and the United States.
  • Honeywell offers a range of solutions from concept design to electrolyzer control to optimize green hydrogen plants, reduce capital and operating expenses, and improve performance and longevity.
The green hydrogen sector is poised for significant growth but faces challenges in production costs, operational inefficiencies, and power forecasting difficulties. Honeywell's recent solutions showcased at the Honeywell Users Group (HUG) meeting in Madrid aim to tackle these issues. The sector's current small installed capacity is expected to grow exponentially, with 865 announced projects from 2023 to 2030. China leads in installed capacity, with other hotspots being Europe, India, Australia, and the United States. The focus is on reducing the levelized cost of hydrogen (LCOH) to less than $2/kg, with an expected decline to $2.6 or $2.7 by the end of the decade. Honeywell's offerings include Concept Design and Optimization, Plantwide Control and Optimization, and Electrolyzer Control System, addressing various aspects from design to operation. These solutions aim to reduce costs, enhance efficiency, and improve the overall performance of green hydrogen plants.
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