Hydrogen produced using clean energy will be the most cost-effective approach to reduce emissions from steel production to near zero by 2050.
While creating green steel using hydrogen demands a price premium currently, the method would likely be cheaper than coal- or natural gas-based production by mid-century.
The most cost-effective method of producing green steel will also be determined by geography. A country with plentiful hydrogen supply might make it the dominating fuel for steel manufacturing, while a country rich in hydropower or another clean energy source may directly electrify steelmaking via a technique known as molten oxide electrolysis.
Recycling, carbon capture, alternative iron-making methods, and carbon offsets are some of the other technologies being used to decarbonize steel. A combination of these will most likely be required on a worldwide basis.
