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Energy
March 21, 2023

Green Steel Premium: Myth or Reality?

Report Summary

  • US and China are able to produce the cheapest green steel today at around $980/ton
  • Both are set to produce green steel at just under $700/ton in 2030
  • The IRA will make the US the leader in this space as soon as 2024 due to the $3/kg hydrogen subsidy but low raw material costs in China will always keep it into play
  • Europe’s IRA response will only allow it to undercut today’s prices 4 years later, in 2027, at around $930/ton, and it will still lag behind in 2030 and rely on imports
  • Huge incentives for more pilots as the hydrogen market has caught manufacturers by surprise
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Rethink Energy Research

Rethink Energy forecasts the changing energy landscape and its investment possibilities, as renewables begin to take over from conventional fossil fuels