Global Electricity Costs

Wholesale: 23 EUR/MWh

Est. H₂ cost: ~1.3 EUR/kg

At 23 EUR/MWh wholesale (CCEE PLD), electrolytic H2 costs only ~1.3 EUR/kg (electricity component). Brazil has the cheapest green hydrogen potential among major economies, driven by abundant hydro and growing wind/solar. Northeast wind corridors offer dedicated renewable H2 at even lower costs.

Wholesale: 22 EUR/MWh

Est. H₂ cost: ~1.2 EUR/kg

At ~22 EUR/MWh marginal generation cost, electrolytic H2 costs ~1.2 EUR/kg (electricity component). Saudi Arabia has the cheapest green hydrogen potential alongside Brazil, driven by subsidized gas and growing solar. NEOM Green Hydrogen Project ($8.4 bn, 4 GW solar+wind, 600 t/day H2) is the world's largest green H2 project under construction.

Wholesale: 22 EUR/MWh

Est. H₂ cost: ~1.2 EUR/kg

At 22 EUR/MWh wholesale (Ontario HOEP), electrolytic H2 costs ~1.2 EUR/kg. Quebec and BC hydro surplus at 25-35 EUR/MWh makes Canada one of the best locations globally for green hydrogen. Hydro-Quebec actively developing H2 export projects. Note: Ontario Global Adjustment raises effective cost for most grid-connected buyers.

Wholesale: 24 EUR/MWh

Est. H₂ cost: ~1.3 EUR/kg

At 24 EUR/MWh wholesale marginal cost, electrolytic H2 costs ~1.3 EUR/kg. Chile has among the best green hydrogen economics globally, driven by world-class solar irradiance in the Atacama Desert. GHD and Porsche eFuels projects in Magallanes use wind for H2/e-methanol. Chile's National Green Hydrogen Strategy targets 25 GW electrolyser capacity by 2030.

Wholesale: 19 EUR/MWh

Est. H₂ cost: ~1 EUR/kg

At 19 EUR/MWh wholesale, electrolytic H2 costs ~1.0 EUR/kg. Cheapest in the dataset. However, the grid is 69% coal, so grid-connected H2 would be grey, not green. Dedicated wind H2 in the Kazakh steppe (excellent wind resource) is a viable green alternative. Nuclear H2 under discussion (NPP feasibility study ongoing).

Wholesale: 20 EUR/MWh

Est. H₂ cost: ~1.1 EUR/kg

At 20 EUR/MWh wholesale, electrolytic H2 costs ~1.1 EUR/kg. Among the cheapest globally. However, Algeria's grid is 98% gas, so grid-connected H2 is grey. Dedicated solar H2 in the Sahara (3,500+ hours/yr irradiance, 6 GW+ solar potential) would be genuinely green. Sonelgaz has launched 3 GW+ solar tenders. Algeria-EU hydrogen pipeline discussions underway.

Wholesale: 30 EUR/MWh

Est. H₂ cost: ~1.7 EUR/kg

At 30 EUR/MWh wholesale (COES CMCP), H2 costs ~1.7 EUR/kg. Peru's hydro-dominated system with near-zero marginal cost in wet season makes it potentially H2-viable. Dedicated solar H2 in Atacama-adjacent southern desert also promising.

Wholesale: 19 EUR/MWh

Est. H₂ cost: ~1 EUR/kg

At 19 EUR/MWh wholesale, H2 costs ~1.0 EUR/kg. Among cheapest globally. However, sanctions limit export potential. Siberian hydro H2 would be genuinely green at ~11 EUR/MWh input.

Wholesale: EUR/MWh

Smelter PPAs at 25 EUR/MWh. Dedicated geothermal/hydro H2 at even lower costs possible. Landsvirkjun actively developing green H2 exports.

Wholesale: 15 EUR/MWh

Est. H₂ cost: ~0.8 EUR/kg

At 15 EUR/MWh wholesale, H2 costs ~0.8 EUR/kg. Cheapest wholesale in the dataset. However, 65% gas grid means H2 is grey. Lithium processing could drive green H2 demand.

74.2 EUR/MWh · 72 gCO₂e/kWh

Competitive pricing, ultra-low carbon grid, cool climate, stable supply. Major hyperscaler investments underway.

75 EUR/MWh · 384 gCO₂e/kWh

Low industrial costs, massive scale, diverse regional options. Virginia (PJM) is world's largest data centre cluster. Texas offers cheapest power.

159 EUR/MWh · 44 gCO₂e/kWh

Ultra-clean grid (22 gCO2/kWh), moderate industrial costs, strong nuclear baseload providing reliable 24/7 supply. Paris and Marseille are major DC hubs. Excellent Scope 2 profile.

96 EUR/MWh · 36 gCO₂e/kWh

Ultra-clean grid (13 gCO2/kWh), cold climate for free cooling, competitive industrial prices (96 EUR/MWh). Facebook/Meta in Lulea, Microsoft/Amazon expanding in Stockholm region. Ideal Scope 2 profile.

70 EUR/MWh · 31 gCO₂e/kWh

Ultra-clean grid (25 gCO2/kWh), cheapest industrial electricity in Europe (70 EUR/MWh), cold climate, abundant water. Green Mountain and other operators in former NATO bunkers. Excellent Scope 2 profile.

195 EUR/MWh · 209 gCO₂e/kWh

London/Slough is Europe's largest DC market by installed capacity. Expensive electricity (195 EUR/MWh) offset by world-class connectivity, strong rule of law, and improving grid carbon profile.

65 EUR/MWh · 175 gCO₂e/kWh

Cheap industrial electricity (65 EUR/MWh national avg, 41-43 in Quebec/BC), very clean grid (85% fossil-free), cold climate. Montreal, Toronto, and Calgary are major DC hubs. Quebec attracts hyperscalers with ultra-cheap hydro.

65 EUR/MWh · 253 gCO₂e/kWh

Cheapest industrial electricity in Western EU (65 EUR/MWh), world-class connectivity (AMS-IX), moderate carbon intensity. Amsterdam is Europe's second-largest DC cluster.

115 EUR/MWh · 144 gCO₂e/kWh

95% renewable grid, cold climate, strong Nordic connectivity. Copenhagen is a growing DC hub. Apple, Google, Facebook all have Danish DC operations. Highest consumer prices in EU but industrial excl. taxes is moderate (115 EUR/MWh).

173 EUR/MWh · 499 gCO₂e/kWh

Singapore is Asia-Pacific's largest DC hub. Expensive electricity but world-class connectivity, rule of law, and financial infrastructure. Government imposed DC moratorium 2019-2022, now selectively reopening.

25 EUR/MWh · 28 gCO₂e/kWh

Cheapest clean industrial electricity globally (25 EUR/MWh), cold climate, abundant geothermal cooling. Growing DC market.

150 EUR/MWh · 34 gCO₂e/kWh

Zurich is a major European DC hub. Clean grid, strong rule of law, banking/financial demand. Moderate costs.