Analysing the Opportunity of Green Hydrogen Production with California Offshore Wind

Presentation Description: With countries continuing to look for ways to reach their decarbonization goals and targets, green hydrogen has been identified by major players as a path forward. Green hydrogen, the production of hydrogen using renewable energy, such as offshore wind, may offer a versatile way to decarbonize historically hard to reach sectors such as the industrial and transportation markets. However, due to the nascent state of the industry, the economic fundamentals of the production of green hydrogen are largely considered unfavorable, still needing either large government subsidies or strong integration with other forms of energy production. These conversations have led many to consider the integration of green hydrogen production with offshore wind, citing offshore wind’s larger scale, infrastructure, and improved economics as reasons for coexistence.
Xodus will utilize its deep understanding of the levelized cost of energy (LCOE) and its relationship to the levelized cost of hydrogen (LCOH) to analyze the current economic viability of green hydrogen production using the planned floating offshore wind farms in California. Xodus will examine if the current federal policy initiatives (Hydrogen Shot, H2Hubs, etc.) will provide enough incentive for sustainable green hydrogen production. Xodus will use this analysis to provide in-depth recommendations on how industry and government can tap the full potential of green hydrogen production with offshore wind in California.