An economic evaluation on hydrogen production technologies and hydrogen applications

The main objective of the study is to present a comprehensive and, above all, updated overview of the hydrogen demand and supply situation. The physical and chemical properties of hydrogen are presented, together with an explanation of its major advantages and disadvantages as an energy carrier compared to other fuels currently in use. It also explains the importance of hydrogen on the world stage, as one of the main vectors for sustainable economic development worldwide. There are numerous uses for hydrogen nowadays. It can be used, for example, as a feedstock in several industrial processes, as an energy carrier or reserve, and as one of the main fuels to decarbonise transport. This work explains the current situation of hydrogen demand, showing the most relevant applications at present and those that are emerging as highly probable alternatives in the short term. Furthermore, estimates of future hydrogen demand are also presented. Regarding hydrogen production methods, firstly, a technical analysis is presented, explaining the characteristics of the different production methods available at present. Subsequently, an analysis of production costs is carried out, taking into account the main alternatives. A sensitivity analysis is also carried out on these alternatives to appreciate with clarity which are the factors that have the greatest impact on the final cost of hydrogen production for each method. One of the most notable conclusions of the report is the fact that, at current fossil fuel prices and associated emissions costs, zero- or low-emission hydrogen production methods are cost- competitive against hydrogen produced from natural gas (the most widely used technology today). It is also highlighted how the global context of recent years has led to an accelerated development of hydrogen technologies and their deployment.