“This magnitude of cost reduction will require sub-US$30/MWh renewable electricity prices, large size electrolyser deployments and high load hours.”
Currently, the fifth largest hydrogen market globally, South Korea’s demand is expected to hit 4.44 million t this year, with close to 86% of demand coming from refineries. Desulfurisation is the primary use case of hydrogen in refineries. Due to air quality concerns, refineries use hydrogen to remove sulfur, and other impurities, from gasoline and diesel. The hydrogen supply is produced locally using fossil fuels and is emissions intensive.
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