Cost Of Hydrogen
The cost of hydrogen is definitely something which many people find interesting, especially as the hydrogen has become such a popular alternative of fuels such as diesel, propane and methane. Anyway, the truth is that determining what the hydrogen’s cost is quite more complicated than it seems. Why is that? You are probably thinking that it’s not true because there could not be anything complicated about saying what the cost of anything (even if it is fuel) is.
However, it is obvious that you did not think about it twice or maybe you do not know that the hydrogen fuel can be manufactured in various way. There at least 5 different and efficient ways for obtaining the fuel but they are not the only reason why the cost may vary. In fact, there are so many factors that counting all of them is absolutely impossible since many of them depend on the individual regions also. For example, a parcel where hydrogen is obtained may cost $1.000.000 if in LA but the same-sized parcel may cost $100.000 if anywhere in the countryside. Unsurprisingly, the hydrogen obtained from the two parcels will not cost equally. And that was just a simple example, there are many others which could be given but it is needless since you must have gotten the meaning.
But you are lucky that there is a type of science called statistics and there are markets which regulate the prices also. Those two factors are the main reason why the cost of hydrogen cannot vary widely whatsoever. However, the main factor determining the rate of cost remains ‘way for obtaining’ and there still is a significant difference between the cost of hydrogen obtained in one way and in another one.
Let’s just take a look at the most common cases which exist in the practice. The cheapest way for producing hydrogen is use gas but it is the lowest-quality hydrogen also. However, it costs around $5.00 on average. What you are probably thinking is that it’s too expensive, especially when compared to the diesel or gas fuels which do not cost more than $2.00. But that’s just the beginning: hydrogen produced from wind costs $8.00 and hydrogen produced by the solar power costs $12.00 on average. But that rate of cost of hydrogen should not worry anybody because it is far more effective than the gas fuel or even the diesel. Yes, it’s true that hydrogen costs three times more but it is three times more effective also. So it’s still the same but the important thing is that you’ll know you are not doing harm to the environment.
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