Green hydrogen industry gains policy tailwind, with low-cost electrolyser technology emerging as key competitive focus

The overarching design of the dual carbon goals has injected powerful momentum into clean energy development, with considerable hopes pinned on "green hydrogen" produced from renewable sources. Recently, both the central government and multiple local authorities have successively introduced industrial plans and supportive policies, clarifying decarbonisation pathways for green hydrogen in sectors such as industry and transport, thereby stimulating investment enthusiasm across the entire industrial chain.
Currently, the primary bottleneck in green hydrogen development lies in production costs. As a core component, the technological sophistication and manufacturing expenses of water electrolysis equipment directly determine green hydrogen's economic viability. The prevailing technical approaches in the market include alkaline electrolyser cells and proton exchange membrane (PEM) electrolyser cells. Alkaline electrolyser technology, being mature and relatively low-cost, currently dominates domestic project applications; PEM electrolysers, however, offer advantages such as high efficiency, rapid response, and compact size, making them better suited for fluctuating renewable energy sources like wind and solar power. Yet their reliance on precious metal catalysts keeps costs elevated.
Consequently, the industry's competitive focus is clearly centred on two fronts: significantly reducing PEM electrolyser costs through material innovation, structural optimisation, and scaled production; and simultaneously enhancing the current density and load regulation range of alkaline electrolysers. Major equipment manufacturers and research institutions are actively investing in R&D for these technologies. Analysts suggest that the coming years will mark a critical period for rapid iteration and cost reduction in electrolyser technology. Enterprises possessing core technological capabilities and cost advantages are poised to secure leading positions within this substantial market opportunity.