The Race to Reduce Fuel Cell Costs: Hydrogen Industry's Struggle with Pricing
Key Ideas
- In 2010, a 120kW fuel cell stack cost around $1m, but by 2022, it had dropped to about $200,000, with predictions of it going below $100,000 in the 2030s.
- The industry aims to achieve a cost of €100/kW by 2030 in the mobility sector, making the total cost of ownership competitive with other technologies.
- There is a positive outlook on the decreasing costs associated with hydrogen fuel cells, potentially making them more accessible and competitive in the market.
- The article suggests that high hydrogen prices may persist in the immediate future, emphasizing the ongoing efforts to reduce costs within the industry.
The hydrogen industry is currently focused on reducing fuel cell costs to make hydrogen more competitive in the market. Over the years, there has been a significant decrease in the average price of fuel cell stacks, with projections indicating a further decline in the coming years. In 2010, a 120kW fuel cell stack was priced at approximately $1 million, which has now dropped to around $200,000 as of 2022. The industry is optimistic about achieving a cost of €100/kW by 2030 in the mobility sector, aiming to make the total cost of ownership comparable to battery-electric and combustion technologies. While the article acknowledges the challenges posed by high hydrogen prices in the short term, the overall sentiment is positive regarding the future cost reductions and increased accessibility of hydrogen fuel cells.