Artem Semenyshyn, Executive Director of ASEU, took part in a webinar on “Development of the Hydrogen Economy in Ukraine”, organized by the Ukrainian Hydrogen Council and dedicated to discussing global prospects for the development of the hydrogen economy.
In his presentation, Mr. Artem focused on the role of solar energy in the production of green hydrogen. Over the next 9 years, the use of green energy for hydrogen production will become more competitive compared to traditional methods. LCOE per 1 MW from $ 30-45 will be reduced to $ 14-18 and this answers the question of which hydrogen production will predominate.
Also, accelerating factors for the development of green hydrogen are new mechanisms for financial taxation of CO2 emissions and the use of CBAM, which will make the most profitable use of renewable energy sources in the production of final products, including green hydrogen.
According to McKinsey, the potential for hydrogen production from RES exceeds even technologies that contain minimal carbon use for hydrogen production. Starting in 2025, the use of “green” energy will be significantly accelerated, which is due to the reduction in the cost of construction of wind and solar power plants.
The director of ASEU assures that almost the entire territory of Ukraine can efficiently generate solar energy with the help of PV, respectively, it is also possible to develop green hydrogen throughout Ukraine. The cost of “solar” hydrogen today already consists of 63% of the cost of solar electricity, and by 2050 this share will increase to about 74%.
Also, Artem Semenyshyn noted that the world is undergoing significant geopolitical transformation and centers of influence are shifting, for Ukraine it is an opportunity to strengthen its energy independence, to reform its industry to a more modern one. At the same time, Ukraine has a great transit potential and a good location in terms of geography to provide growing European markets with green hydrogen.