The cost of electrolyzers has dropped precipitously in the past few years and is expected to continue to do so. Just five years ago costs were quoted in the range of $2,000 per kilowatt and they are under half that today, expected to continue to drop rapidly as economies of scale bring down the costs. At least one manufacturer as targeted $200/kW and when queried about when that would happen, responded, “it’s not about when, it’s about production levels.” Another manufacturer representative commented, “We are largely still making these by hand, if we were making them at scale we would print them.” Costs are also very sensitive to the size of the installation, larger units cost significantly less than smaller ones on a cost per unit of hydrogen production basis.
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