While Elon Musk and other naysayers have condemned hydrogen, the energy is expected to see a breakthrough over the new decade: a 50 percent cost reduction — making it highly competitive with traditional fuel and low-carbon alternatives. .vemba-player-sticky{ min-width: 800px; z-index: 100000; } That comes from a new study by Hydrogen Council and McKinsey & Co., Path to Hydrogen Competitiveness: A Cost Perspective. The report outlines three core market drivers: a steep drop in production costs, higher load utilization cutting distribution and refueling costs, and additional cost drops from scaling up of end-use equipment manufacturing. The study looked at 25,000 data points gathered and analyzed from 30 global companies with cost reductions expected across several different hydrogen applications. These sectors include long-distance and heavy-duty transportation, industrial heating, heavy industry feedstock, and others, which make up about 15 percent of global energy consumption. Writers of the study see the need […]