Green Hydrogen for $1.45? H2V Will Be the Cheapest in the World!

Written by Valdemar Medeiros

Published on 19/03/2024 at 22:17

Foto: Dall-e- usina de hidrogênio verde

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Brazilian Green Hydrogen May Be the Cheapest in the World, Costing US$ 1.45 Per Kg. Brazil Makes a Great Leap Towards Sustainability and Energy Transition, Highlights BloombergNEF.

By 2030, Brazil could produce the cheapest green hydrogen in the world, below the value of US$ 1.45 per kg. The information comes from a study by the energy finance research firm BloombergNEF (BNEF), released during the company’s Annual Forum in São Paulo.

The study considers the cheapest methods of green hydrogen production according to the climatic conditions of each country. For Brazilian green hydrogen, the use of onshore wind energy and alkaline electrolysis would be the most beneficial.

Brazilian Green Hydrogen Should Equal 3.8 GW by 2030

Other countries that reported low values include China, also with wind energy, and Chile, using solar sources. According to BNEF’s head of research, James Ellis, green hydrogen is a potential for Latin America and Brazil. The region is expected to produce about 6.8 GW by 2030, with 3.8 GW coming from Brazil. Brazil has already decarbonized over 80% of its energy production, not by accident, but through smart investments and policies.

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Brazil Should Achieve 96% Renewable Matrix by 2050

Despite the billions invested, green hydrogen, however, was not among the areas that received the most funding in Brazil. The leaders were renewable energies, followed by electric grids and transport electrification. The projection is that by 2050, with the economic transition, energy production in Brazil will exceed 900 TWh, with 96% of it being from renewable sources. In 2023, the energy capacity was 677 TWh.

According to Ellis, the country should continue doing what it is already doing to enhance its competitive advantage as a producer of renewable energies. He stated that Brazil has already developed its energy decarbonization, which many countries are still struggling to achieve. Brazil has become a leader in the global renewable energy markets.

The event also pointed out projections for the energy transition scenario over the coming decades in the global context. By 2050, the most used fuel by end consumers is expected to stop being coal, with the transition making way for green hydrogen as the main energy source.

Brazil Ahead in Renewable Energies

The BloombergNEF specialist also pointed to a Brazilian potential in green steel production, which is more beneficial to the environment than iron. The Brazilian share of steel is only 2%, while iron is 17%. With green hydrogen, steel mills would have a cheaper production option with zero emissions.

In agriculture, the production of green fertilizers is a way to boost the economy and reduce import rates, especially regarding nitrogen: currently, only 24% of the nitrogen used is produced locally.

Biofuels are the promise for the transition in the transportation sector. Combined with the use of electric cars, which saw a surge in sales in 2023, from 19 thousand to 52 thousand sales, the long-term CO2 emissions from vehicles are lower in Brazil than in other countries. It is also worth noting that there are possibilities for Brazilian green hydrogen to be used to power vehicles.

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Green Hydrogen for $1.45? H2V Will Be the Cheapest in the World!

Brazilian Green Hydrogen May Be the Cheapest in the World, Costing US$ 1.45 Per Kg. Brazil Makes a Great Leap Towards Sustainability and Energy Transition, Highlights BloombergNEF.

Brazilian Green Hydrogen Should Equal 3.8 GW by 2030

Brazil Should Achieve 96% Renewable Matrix by 2050

Brazil Ahead in Renewable Energies

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Green Hydrogen for $1.45? H2V Will Be the Cheapest in the World!

Brazilian Green Hydrogen May Be the Cheapest in the World, Costing US$ 1.45 Per Kg. Brazil Makes a Great Leap Towards Sustainability and Energy Transition, Highlights BloombergNEF.

Brazilian Green Hydrogen Should Equal 3.8 GW by 2030

Brazil Should Achieve 96% Renewable Matrix by 2050

Brazil Ahead in Renewable Energies

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Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

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