ADI assessed the cost competitiveness of alkaline, proton exchange membrane (PEM), and solid oxide electrolyzer cell (SOEC) electrolyzers, focusing on the capex variations globally. The work detailed the cost outlook of stack components like bipolar plates and catalyst-coated membranes over a 10-year period. Levelized cost of hydrogen (LCOH) modeling was used to demonstrate variations in capex in North America, Europe, and China.
The client
Global investment firm
The situation
Competitive uncertainty regarding the long-term cost dominance of Chinese alkaline electrolyzers versus Western technology.
ADI’s contributions
Granular component breakdown
Modeled learning rates for stacks and balance-of-plant (BOP) systems to identify which components drive future cost cuts.
Regional capability analysis
Evaluated the Chinese supply chain for critical minerals like iridium and nickel to assess long-term cost sustainability.
Primary expert networking
Leveraged 15 interviews with stakeholders in China and Europe to validate real-world stack lives and efficiency gaps.
LCOH scenario modeling
Compared LCOH across multiple configurations to show how electricity prices and efficiency impact total production costs.
Key outcomes
- Decision support for co-opting Chinese manufacturing while maintaining best-in-class Western stack technology and performance.
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