Nel Pushes for Hydrogen Price of $1.5/kg by 2025
Nel Hydrogen of Norway predicts that by 2025, large-scale Nel electrolyzers in the multi-GW range will be able to produce hydrogen from electricity at a price of $1.5/kg, reaching fossil parity.
Nel is currently setting up a fully automated manufacturing facility at Herøya, at its Norwegian home base, that should produce 500 MW/year as of Q2-2021. The potential is up to 2 GW/year. Scale is the most important driver behind the expected spectacular price decay. Nel thinks it will be able to bring filling stations to market with a capacity of fueling heavy-duty trucks within 10-15 minutes, enabling a range of 1,000 km.