Global average levelised cost of hydrogen production by energy source and technology, 2019 and 2050

Notes

Natural gas = steam methane reforming (SMR); coal = coal gasification. Coal and coal with CCS apply to China only. Electrolysis using low-carbon electricity assumes dedicated renewables-based generation. Capital expenditure (CAPEX) assumptions: SMR without CCUS – USD 910/kW H2 (2019 and 2050); SMR with CCS – USD 1 583/kW H2 (2019) and 1 282/kW H2 (2050); coal without CCUS – USD 2 672/k W H2 (2019 and 2050); coal with CCS – USD 2 783/kW H2 (2019 and 2050); electrolysis – USD 872/kWe (2019) and USD 269/kWe (2050). Operating expenditure (OPEX) assumptions (as % of CAPEX): SMR without CCS – 4.7% (2019 and 2050), SMR with CCS – 3.0 % (2019 and 2050); coal with and without CCS – 5.0% (2019 and 2050); electrolysis – 2.2% (2019) and 1.5% (2050). Efficiency assumptions (lower heating value): SMR without CCS – 76% (2019 and 2050), SMR with CCS – 69% (2019 and 2050): coal without CCS – 60% (2019 and 2050), coal with CCS – 58% (2019 and 2050); electrolysis – 64% (2019) and 74% (2050). Full-load hour assumptions: SMR and coal gasification 8 322 hours (2019 and 2050); electrolysis 3 000-4 000 hours (2019) and 2 000-3 000 hours (2050). Stack lifetime: 100 000 hours. System lifetime assumptions: 30 years. Fuel price assumptions: natural gas – USD 1.4-6.3 per gigajoule (GJ) (2019) and USD 1.7-7.0/GJ (2050); coal – USD 1.6 3.8/GJ (2019) and USD 1.0 2.2/GJ (2050); electricity – USD 36 116 per megawatt-hour (MWh) (2019) and USD 20 60/MWh (2050). CO2 capture rate assumptions: SMR with CCS – 95%, coal with CCS – 90%. CO2 price assumptions: USD 0 15/tCO2 (2019) and USD 180/tCO2 (2050). CO2 transport and storage cost assumptions: USD 20/tCO2. Representative discount rate for this analysis is 8%.