Hydrogen Is Green Steel’s Best Bet in the Long Run, BNEF Says

Hydrogen made from clean power will be the cheapest way to bring emissions from steel production near zero by 2050, according to a BloombergNEF report.

While making green steel with hydrogen requires a price premium now, the process will likely be cheaper than coal- or natural gas-based production by mid-century, though that would require building new plants, BNEF said.

Geography will also determine the most cost-effective way to produce green steel. A country with abundant hydrogen supplies could make it the dominant fuel for steel production, while a nation rich in hydropower or another clean energy source could directly electrify ...