Union Minister RK Singh, at the Special Ministerial Session of the Fourth International Conference & Exhibition on Clean Energy said that round-the-clock renewable energy will cost just about Rs 6 per unit if green hydrogen is used for storage is accurate.
Green hydrogen is produced using renewable energy to split water into hydrogen and oxygen. The hydrogen can then be stored and used to generate electricity when needed.
The cost of producing green hydrogen is currently around Rs 300 per kg in India. However, this cost is expected to decline significantly in the coming years as the technology matures and economies of scale are achieved.
Singh has said that the government is working to make green hydrogen a viable energy storage option in India. The government has already launched a number of initiatives to support the development of the green hydrogen sector, including providing financial incentives and setting up demonstration projects.
If the cost of green hydrogen can be reduced to Rs 100 per kg, then round-the-clock renewable energy could be produced for around Rs 6 per unit. This would make renewable energy more competitive with fossil fuels and would help India to achieve its ambitious renewable energy targets.
Singh’s estimate of Rs 6 per unit for round-the-clock renewable energy using green hydrogen is based on a number of assumptions, including the cost of renewable energy, the cost of green hydrogen production, and the efficiency of the energy storage systems.
However, it is a realistic estimate, and it is likely that the cost of round-the-clock renewable energy using green hydrogen will continue to decline in the future.
Reference- Business Standard, Press Information Bureau, Economic Times, Money Control