Switched On Hydrogen: Bucking the Low-Cost Clean Power Trend
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Mar 12, 2025 Join Amar Vasdev, a senior associate at BNEF specializing in energy economics, and Martin Tengler, head of hydrogen research at BNEF, as they dive into the dynamic world of clean power. They highlight record-low costs of electricity from solar and wind while discussing hydrogen's unique position amidst these trends. Their conversation reveals the impact of geopolitical factors on hydrogen production, investment shifts, and the future of renewable energy economics, challenging listeners to rethink cost assessment in the evolving energy landscape.
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LCOE Report Importance
- LCOE analysis tracks power project costs, summarizing financing, CapEx, and OPEX trends.
- It helps understand cost changes and informs investment decisions for power generation.
Solar Cost Reduction
- Solar module prices have dropped 96% since 2010 due to innovation and overcapacity.
- Oversupply will likely keep prices stable, potentially lower, in the coming years.
Offshore Wind Cost Decline
- Offshore wind LCOE is expected to decline by about 9% from 2024 to 2025.
- Further cost reductions are anticipated through 2035, driven by potential cost recovery in the sector.