Green steel could reach cost parity by 2050
Use of hydrogen in supply chain and co-location of manufacture with renewables could greatly reduce cost of green steel production, according to Oxford University study
Green steel produced using hydrogen can reach price parity with steel made using traditional carbon-intensive processes by 2050, according to a study by researchers at Oxford University’s Department of Engineering Science. The study modelled 12 different supply-chain formats for meeting Japanese demand for steel from Australian iron ore. Japan is the world’s second-biggest steel exporter after China. Under a model where high-quality renewables are used to power manufacturing facilities next to iron ore reserves in Western Australia, the falling cost of renewables and hydrogen mean steel can be produced for A$716-948/t ($500-661/t) in 2050, the study found. The current steel price is highly v
Also in this section
24 April 2024
Demand for energy purposes to outpace feedstock applications by the 2040s as government policies drive consumption, says DNV
24 April 2024
Danish firm joins growing list of European electrolyser manufacturers establishing production in US as IRA incentives prove strong draw
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter