“Australia is clearly showing the world’s electricity market the future. On sunny days — 10am to 3.30pm daily — electricity prices are now negative. EVs, batteries and pumped hydro can absorb some of this negative cost electricity, but low–capacity factor GH2 facilities will profiteer on spilled electricity as electrification of everything drives decarbonisation.”Nel moved from 40 megawatts to 500MW in 2021; ITM Power from 100MW to 1000MW in 2021.
In February 2020, Japan had the largest operational GH2 facility , but by January 2021, Air Liquide opened a 20 MW facility in Canada. Then Shell started construction on a 100 MW site in Germany. The records keep tumbling, just as they did for batteries. The title of the largest battery in the world was not held for long. Here’s more from“Thyssenkrupp and Shell announced a 200MW unit in Rotterdam just last month to be commissioned by 2024/25.
“In his 2022 letter, BlackRock’s CEO Larry Fink talks of a tectonic shift of capital. More than US$130 trillion of collective financial capital has been pledged globally to net zero emissions by 2050.”
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