manufacturing

2 pieces

46 megawatts. That is what Europe connected in the first half of 2026.

Against 177 MWel in the same period of 2025, and with the average commissioned project falling from 18 MWel to 5 MWel. This is not a slowdown in growth. It is a change of scale downwards, and the diagnosis of why has moved from cost to something harder to fix.

19 Oct 202610 min read6 sources

capexcostmanufacturing

A Chinese stack is four to six times cheaper. It moves your LCOH by 3 to 13%.

Two beliefs carry a lot of hydrogen models: that the learning curve will bring costs down, and that Chinese equipment will accelerate it. Both are now testable. The European Commission's own assessment puts the second one at 3–13%, and the factories making the equipment are running at about 10%.

9 Aug 20269 min read10 sources