16 May 2023 | 04:30 UTC
Platts updates capex figures used in its hydrogen cost calculations
Platts, part of S&P Global Commodity Insights, has made several updates to its capital expenditure figures and electrolyzer efficiency used in the calculations of cost of production for most of its global hydrogen assessments as part of a yearly review of the Platts hydrogen methodology, effective May 15, 2023.
The capital costs ($/KW) for the production pathways of proton exchange membrane (PEM) electrolysis, alkaline electrolysis and steam methane reforming (SMR) with and without carbon capture and sequestration (CCS), have been increased, except for in the Middle East, where the PEM costs have declined.
With this update, Platts reflects supply chain disruptions and higher inflation based on industry sources, including publications from the International Energy Agency and Australia's Commonwealth Scientific and Industrial Research Organization (CSIRO). The efficiency of PEM electrolyzer has also been increased to 61% from previous value of 58% based on feedback from the industry.
These updates directly affect the following set of hydrogen assessments as follows:
Capital costs
Symbol
Previous
Updated
Alberta Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITC00
991
1,050
Alberta Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINR00
1,550
1,572
Alberta Hydrogen SMR Capital Cost ($/KW)
HYING00
1,047
1,126
Appalachia Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITD00
910
958
Appalachia Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINS00
1,424
1,435
Appalachia Hydrogen SMR Capital Cost ($/KW)
HYINH00
1,075
1,149
California Hydrogen SMR with CCS Capital Cost ($/KW)
ACSTE00
1,644
1,735
Midcontinent Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITE00
884
931
Midcontinent Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINT00
1,382
1,393
Midcontinent Hydrogen SMR Capital Cost ($/KW)
HYINI00
959
1,026
N. California Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITG00
1,021
1,075
N. California Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINV00
1,597
1,610
N. California Hydrogen SMR Capital Cost ($/KW)
HYINK00
1,319
1,410
Northeast Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITF00
936
985
Northeast Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINU00
1,465
1,477
Northeast Hydrogen SMR Capital Cost ($/KW)
HYINJ00
1,146
1,225
Northwest Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITH00
927
976
Northwest Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINW00
1,451
1,463
Northwest Hydrogen SMR Capital Cost ($/KW)
HYINL00
1,052
1,125
Rockies Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITI00
897
944
Rockies Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINX00
1,403
1,414
Rockies Hydrogen SMR Capital Cost ($/KW)
HYINM00
1,008
1,078
S. California Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITK00
1,000
1,053
S. California Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINZ00
1,564
1,577
S. California Hydrogen SMR Capital Cost ($/KW)
HYINO00
1,265
1,353
Southeast Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITJ00
884
931
Southeast Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYINY00
1,384
1,395
Southeast Hydrogen SMR Capital Cost ($/KW)
HYINN00
938
1,003
Upper Midwest Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITL00
938
987
Upper Midwest Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYITA00
1,467
1,479
Upper Midwest Hydrogen SMR Capital Cost ($/KW)
HYINP00
1,026
1,097
US Gulf Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
ACSTH00
861
906
US Gulf Hydrogen PEM Electrolysis Capital Cost ($/KW)
ACSTA00
1,348
1,359
US Gulf Hydrogen SMR Capital Cost ($/KW)
ACSTC00
910
973
US Gulf Hydrogen SMR with CCS Capital Cost ($/KW)
ACSTG00
1,644
1,735
Japan Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HYITM00
1,292
1,354
Japan Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYITB00
2,022
2,030
Japan Hydrogen SMR Capital Cost ($/KW)
HYINQ00
1,365
1,454
Japan Hydrogen SMR with CCS Capital Cost ($/KW)
ACSTF00
1,644
1,728
Netherlands Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
HVNDT00
861
992
Netherlands Hydrogen ATR w CCS Capital Cost (Eur/KW)
HNETE00
736
861
Netherlands Hydrogen PEM Electrolysis Capital Cost ($/KW)
HVNDF00
1,348
1,487
Netherlands Hydrogen SMR Capital Cost ($/KW)
HVNCA00
910
1,065
Netherlands Hydrogen SMR with CCS Capital Cost ($/KW)
HVNCS00
1,644
1,899
UK Hydrogen Alkaline Electrolysis Capital Cost ($/KW)
ACSTI00
861
972
UK Hydrogen ATR w CCS Capital Cost (GBP/KW)
HYITN00
631
724
UK Hydrogen PEM Electrolysis Capital Cost ($/KW)
ACSTB00
1,348
1,458
UK Hydrogen SMR with CCS Capital Cost ($/KW)
ACSTD00
1,644
1,861
New South Wales Hydrogen Alkaline Electrolysis Capital Cost (A$/KW)
HYXAQ00
1,156
1,249
New South Wales Hydrogen Coal Gasification Capital Cost ($/KW)
HYXAH00
2,780
3,052
New South Wales Hydrogen PEM Electrolysis Capital Cost (A$/KW)
HYXAK00
2,051
2,123
Queensland Hydrogen Coal Gasification Capital Cost ($/KW)
HYXAI00
2,780
3,052
Queensland Hydrogen Alkaline Electrolysis Capital Cost (A$/KW)
HYXAR00
1,156
1,249
Queensland Hydrogen PEM Electrolysis Capital Cost (A$/KW)
HYXAL00
2,051
2,123
South Australia Hydrogen Alkaline Electrolysis Capital Cost (A$/KW)
HYXAS00
1,156
1,249
South Australia Hydrogen PEM Electrolysis Capital Cost (A$/KW)
HYXAM00
2,051
2,123
Tasmania Hydrogen Alkaline Electrolysis Capital Cost (A$/KW)
HYXAT00
1,156
1,249
Tasmania Hydrogen PEM Electrolysis Capital Cost (A$/KW)
HYXAN00
2,051
2,123
Victoria Hydrogen Alkaline Electrolysis Capital Cost (A$/KW)
HYXAU00
1,156
1,249
Victoria Hydrogen Lignite Gasification Capital Cost ($/KW)
HYXAJ00
3,508
3,851
Victoria Hydrogen PEM Electrolysis Capital Cost (A$/KW)
HYXAO00
2,051
2,123
Western Australia Hydrogen Alkaline Electrolysis Capital Cost (A$/KW)
HYXAV00
1,156
1,249
Western Australia Hydrogen PEM Electrolysis Capital Cost (A$/KW)
HYXAP00
2,051
2,123
Western Australia Hydrogen SMR w CCS Capital Cost ($/KW)
HYXAG00
1,644
1,781
Oman Hydrogen Alkali Electrolysis Capital Cost ($/KW)
HYSCK00
861
873
Oman Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYSCJ00
1,348
1,308
Oman Hydrogen SMR w CCS Capital Cost ($/KW)
HYSCL00
1,644
1,670
Qatar Hydrogen Alkali Electrolysis Capital Cost ($/KW)
HYSCE00
861
873
Qatar Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYSCD00
1,348
1,308
Qatar Hydrogen SMR w CCS Capital Cost ($/KW)
HYSCF00
1,644
1,670
Saudi Arabia Hydrogen Alkali Electrolysis Capital Cost ($/KW)
HYSCB00
861
873
Saudi Arabia Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYSCA00
1,348
1,308
Saudi Arabia Hydrogen SMR w CCS Capital Cost ($/KW)
HYSCC00
1,644
1,670
UAE Hydrogen Alkali Electrolysis Capital Cost ($/KW)
HYSCH00
861
873
UAE Hydrogen PEM Electrolysis Capital Cost ($/KW)
HYSCG00
1,348
1,308
UAE Hydrogen SMR w CCS Capital Cost ($/KW)
HYSCI00
1,644
1,670
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