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Lazard's Levelized Cost of Hydrogen Analysis—vF

LAZARD S Levelized COST OF Hydrogen ANALYSISJUNE 2021 This study has been prepared by Lazard for general informational purposes only, and it is not intended to be, and should not be construed as, financial or other advice. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior consent of 2021 Lazard Lazard s Levelized Cost of Hydrogen Analysis Executive SummaryLAZARD S Levelized COST OF Hydrogen ANALYSISO verview ofAnalysisLazard has undertaken an analysis of the Levelized Cost of Hydrogen ( LCOH ) in an effort to provide greater clarity to Industry participants on the potentially disruptive role of Hydrogen across a variety of economic sectors. Our LCOH builds upon, and relates to, our annual Levelized Cost of Energy ( LCOE ) and Levelized Cost of Storage ( LCOS ) studies.

Applications which require minimal additional steps (e.g., conversion, storage, transportation, etc.) to reach the end user will achieve cost competitiveness sooner than those that do not This dynamic is further amplified to the extent that end uses require retrofitting equipment to utilize hydrogen vs. the conventional alternatives

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  Applications, Retrofitting

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