Early Estimating Metrics for Green Hydrogen Projects
What Is the Total Cost of a Green Hydrogen Project?
Independent Project Analysis, Inc. (IPA) is launching a multi-client research study in early 2024 to answer this question by establishing a suite of early estimating metrics for green hydrogen projects. Participating companies will be able to use the metrics for more accurate conceptual estimating, feasibility estimating, and detailed estimate validation. We will analyze data directly from green hydrogen project teams to produce separate metrics for both proton exchange membrane (PEM) electrolysis and alkaline water electrolysis (AWE) technologies. Five multinational energy companies at the forefront of the green hydrogen sector have enlisted IPA to lead this important initiative and we invite additional owner companies to join!
Key Benefits
- Develop accurate conceptual and feasibility estimates for green hydrogen projects
- Validate detailed project estimates
- Predict the economic feasibility of green hydrogen projects
- Understand green hydrogen project competitiveness and predictability
- Improve your early decision making with unbiased industry-level data
Reliable Data for Better Decision Making
Green hydrogen is a high priority technology for energy transition plans around the world. With the push toward a more sustainable future, it is critical that projects using electrolysis to produce hydrogen are successful. Few green hydrogen facilities on the megawatt scale have reached mechanical completion to date, so the industry lacks the unbiased data needed to reliably support early cost and schedule estimating. This groundbreaking study will fill the void by producing the essential metrics owner companies need to improve their early decision making and project selection activities.
IPA’s Proven Methodology
IPA will conduct the study by employing our proven methodology:
- Develop a standardized cost coding structure and data collection form
- Collect project cost and technical data from participating companies securely and accurately
- Normalize the project cost data, adjusting for escalation, currency, and project location
- Analyze the data and generate the metrics
- Develop the metrics deliverable and share with participating companies
- Continue collecting data from participating companies to update the metrics annually
Proposed Green Hydrogen Project Metrics
- Material Quantity Metrics
- ISBL Cost Metrics
- OSBL Cost Metrics
- Office Cost Metrics (Total Project)
- Field Craft Hours Metrics (Total Project)
- Schedule Metrics (Total Project)
The final metric list is subject to participant feedback and data availability. Summary statistics will be provided for each metric category. Contact IPA to request more information on the metrics and summary statistics.
Join the Study
Owner companies currently active in green hydrogen are invited to join the study. Complete the web form below to request more information on how the early estimating metrics will bring predictability and improved decision making to your green hydrogen projects.