Synopsis:
- The momentum of Green Hydrogen (GH2) in India will be driven by lower renewable energy costs and India’s decarbonisation goals.
- The prevailing levelised cost of Green Hydrogen (LCOH) stands at ~1.75x times and ~1.50x times higher than that of grey and brown hydrogen respectively, posing a significant barrier to its adoption.
- Economic viability of Green Hydrogen requires a 35%-40% drop in electrolyser prices and a 12%-14% improvement in efficiency apart from supportive policies.
- Refineries and ammonia production are expected to be early adopters of Green Hydrogen, with potential for exporting green ammonia.
- However, effective storage and transportation solutions for green hydrogen and its derivatives will be essential for its wide-scale adoption.
