Electrolyzers Market Worth $4.27 Billion by 2030

Electricity is the major cost component in the production of green hydrogen. Therefore, there is a growing focus on nuclear and renewable energy sources such as wind, solar, hydro, and geothermal due to cost savings and zero greenhouse gas emissions in electricity production. Electricity generated from renewable sources is also economical due to advances in technology. Low installation costs are one of the major factors for the falling Levelized Cost of Electricity (LCOE) for solar and wind power.