The economic analysis for hydrogen production cost towards electrolyzer technologies: Current and future competitiveness

Hydrogen production by electrolysis technology spurs as extensive investigation toward new clear energy acquisition. The mainstream hydrogen production electrolyzers, including alkaline electrolyzer (ALK), anion exchange membrane electrolyzer (AEM), and proton exchange membrane electrolyzer (PEM), are traced to compare their current and future hydrogen production cost regarding technology development. Technologies' characteristics are originally described as the polarization curve parameters such as current density, overpotential, and polarization curve slope. The feature of crucial materials such as catalysts and membranes are also taken into consideration. Then, a bottom-up hydrogen production cost prediction model stemming from technical factors is established with a combination of manufacturing and operating considerations. According to model predictions, the cost of hydrogen production of ALK will be 23.85% and 51.59% lower than AEM and PEM technologies in the short term. However, under technological advancement or breakthrough, the hydrogen production cost of AEM and PEM is expected to be 24% and 56.5% lower in the medium-term and long-term, respectively. The lifetime of the electrolyzers is significantly vital to affect the cost of hydrogen production. The cost reduction space brought about by various technical factors is also explored for the blueprint planning of the hydrogen economy.