Capex and opex input assumptions for PEM and Alkaline electrolyser systems
This data is based on analysis conducted by the Strategic Futures team. The benchmark capex figures are presented for 3 scenarios for proton-exchange membrane (PEM) and Alkaline electrolysis. These are derived from a combination of NESO's own analysis, and aggregation of available public and third party data (see list of sources below).
Sources:
- Bloomberg NEF
- Aurora Energy Research
- IEA (2025), Global Hydrogen Review 2025, International Energy Agency
- Danish Energy Agency (2024), Renewable Fuels - Technology Data, Danish Energy Agency
- TNO (2024), Evaluation of the levelised cost of hydrogen based on proposed electrolyser projects in the Netherlands, TNO Public
- European Hydrogen Observatory
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Table Information
Tech
| Title | Tech |
|---|---|
| Type | string |
| Description | Electrolyser technology, either PEM or Alkaline |
| Comment | |
| Example | |
| Unit | N/A |
Scenario
| Title | Scenario |
|---|---|
| Type | string |
| Description | Electrolyser capex scenario - Central, High, or Low scenario for capital cost projection |
| Comment | |
| Example | |
| Unit | N/A |
Build Year
| Title | Build Year |
|---|---|
| Type | integer |
| Description | Construction year of the electrolyser plant |
| Comment | |
| Example | |
| Unit | N/A |
Capex (£/kWe)
| Title | Capex (£/kWe) |
|---|---|
| Type | number |
| Description | Capex representing the total installed capital costs of the electrolyser system in £/kW input electricity |
| Comment | |
| Example | |
| Unit | £/kWe |
Efficiency
| Title | Efficiency |
|---|---|
| Type | number |
| Description | Efficiency of the electrolyser system representing the output kWh hydrogen yield per kWh input electricity, presented as a % |
| Comment | |
| Example | |
| Unit | % |
Capex (£/kW H2 HHV)
| Title | Capex (£/kW H2 HHV) |
|---|---|
| Type | number |
| Description | Capex representing the total installed capital costs of the electrolyser system in £/kW hydrogen equivalent using the higher heating value (HHV) |
| Comment | |
| Example | |
| Unit | £/kW H2 HHV |
Fixed Opex % of capex
| Title | Fixed Opex % of capex |
|---|---|
| Type | number |
| Description | Annual fixed opex as a percentage of total capex |
| Comment | |
| Example | |
| Unit | % |
Fixed Opex
| Title | Fixed Opex |
|---|---|
| Type | number |
| Description | Annual fixed opex covering standard operating and maintenance costs |
| Comment | |
| Example | |
| Unit | £/kW H2 HHV per year |
Variable Opex
| Title | Variable Opex |
|---|---|
| Type | number |
| Description | Variable opex covering other opex including water costs and electrolyser stack replacement |
| Comment | |
| Example | |
| Unit | £/kWh H2 HHV |
Plant Lifetime
| Title | Plant Lifetime |
|---|---|
| Type | number |
| Description | The plant lifetime is assumed to be 25 years in all cases |
| Comment | |
| Example | |
| Unit | N/A |