Unlocking Green Hydrogen: A Path to Economic Viability in Europe
Key Ideas
- Research from NTNU suggests deploying 140 GW of green hydrogen by 2050 could make it economically viable in Europe.
- Green hydrogen may balance system costs, increase renewable integration, and become self-sustaining without subsidies.
- The study emphasizes the role of green hydrogen in enhancing flexibility within the European power system.
- Germany, France, the UK, Italy, Spain, and Norway are identified as having strong potential for green hydrogen development.
Researchers from the Norwegian University of Science and Technology have conducted a study on the incorporation of green hydrogen into the European power system. The research indicates that deploying approximately 140 GW of green hydrogen generation capacity by 2050 could make green hydrogen economically viable in Europe. This scale of deployment is projected to balance system costs effectively, increase renewable integration, and enable green hydrogen to become self-sustaining without the need for subsidies. The study evaluated the economic viability and strategic value of green hydrogen as a flexibility source within the European power system by 2050 using the European Model for Power System Investment with Renewable Energy (EMPIRE). The research focuses on how green hydrogen can reduce renewable energy curtailment and enhance the flexibility of the power sector, especially in the context of high-variable renewable energy sources like wind and solar power. The study forecasts a long-term green hydrogen price trajectory, estimating an average price of €30/MWh, which is expected to gradually increase to €70/MWh by 2050–2055. Countries such as Germany, France, the UK, Italy, Spain, and Norway are seen as having great potential for green hydrogen development. The research highlights the growing hydrogen demand in various sectors by 2050, especially in transportation, industry, residential, and power sectors.