Jon Andre Lokke, Nel's CEO
Nel targets $1.5/kg green hydrogen
Falling technology costs and cheaper renewable power could bring green hydrogen close to fossil parity, says CEO
Electrolyser manufacturer Nel says green hydrogen production costs can be reduced to $1.5/kg by 2025. Nel CEO Jon Andre Lokke told the First Element conference the figure could be achieved via cost reductions in the supply chain and renewable electricity prices falling to around $20/MWh. “We believe based on… the cost reductions we are delivering on technology and electrolysers that, by 2025, we will be able to produce green hydrogen at $1.5/kg from a large-scale Nel facility,” he says. Best-in-class solar and wind projects can deliver electricity at around $20/MWh currently, although wholesale prices are at significantly higher levels in most regions. The $1.5/kg level is important because
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