We have modelled the relative economics of hydrogen cars fed by renewable energy and hydrolysis of water, to assess whether they can be cost-competitive.
In our base case US assumptions, hydrogen is c85% costlier than gasoline. In Europe, all in costs of hydrogen can match gasoline cars with c20% deflation across the board, free renewable energy and c$75/bbl oil inputs.
The model breaks out full-cycle costs as a function of: oil prices, oil taxes, power prices, renewable prices, hydrolysis costs, carbon costs, vehicle costs and capital costs. Download the model and you can flex these variables.