ETERNAL POWER considers green hydrogen price of 3€/kg within reach

ETERNAL POWER aims to produce green hydrogen for 3 euros per kilogram by 2030, primarily in countries like Chile. The forecast considers five factors to be most relevant: renewable energy and electrolyser costs, technological advancements, competition, and political incentives. Despite being twice as expensive as gray and blue hydrogen, the switch to green hydrogen is economically viable in certain sectors due to factors like mobility industry CO2 fines. Robert Meitz, Managing Director of ETERNAL POWER, draws parallels between falling solar energy prices and the green hydrogen industry: “Our forecasts predict a similar price development as in the solar sector, where prices have fallen by 95 percent in just a few years”, he states.

However, price fluctuations are expected. Dr. Moritz Schwencke, co-founder of ETERNAL POWER, notes the complex and regionally varying pricing of green hydrogen, anticipating price increases before achieving affordability due to growing demand and project development time. Developing energy-efficient and cost-effective electrolysis plants is crucial to lower production costs, with significant global advancements already underway.

Meitz emphasizes the need for swift political support and streamlined incentive systems to accelerate green hydrogen market expansion and bridge price gaps. Urging Europe and Germany to secure renewable energy and green hydrogen production areas, he highlights the risk of investments flowing to other countries. Meeting future energy demands and sustaining Germany’s industrial position requires prompt action and measures to foster green hydrogen development and adoption.