With New Gigafactories, Hydrogen Costs to Tumble

Vattenfall converting site of 1,600 MW coal plant to H2 hub; Thyssen Krupp nails big electrolyzer contract in Quebec; Nel forecasts huge cut in electrolyzer costs; Biden Administration to revise social cost of carbon to guide policy decisions; 2020 sees half trillion dollars in cleantech investments; UAE to make green aluminum from solar power

1) Vattenfall to convert 1,600 MW German coal plant near Hamburg, Germany into hydrogen hub, w/100 MW of electrolyzers.

2) ThyssenKrupp secures HQ order for 88 MW H2 plant, ready by late 2023.

3) Norwegian electrolyzer company Nel plans to cut the costs of electrolyzers by 75% in new 2 GW facility. Assuming cost of renewables at $20 per MWh, Nel projects green H2 at $1.50/kg by 2025, on par with gray H2.

4) Biden Administration tells federal agencies to review and update "social cost" of carbon, as part of decision-making process.

5) Bloomberg New Energy Finance reports 2020 clean energy tech investments hit a record $501 billion, w/$300 billion in renewables and $140 billion in EVs and infrastructure.

6) The UAE will produce aluminum using solar energy, w/560 GWh of solar to yield 40,000 tons of aluminum, & scope for significant expansion.