Global green hydrogen-based steel opportunities surrounding high quality renewable energy and iron ore deposits
University of Oxford · Science Oxford
Abstract
Emissions and requires deep reform to disconnect from fossil fuels. Here, we investigate the market competitiveness of one of the widely considered decarbonisation routes for primary steel production: green hydrogen-based direct reduction of iron ore followed by electric arc furnace steelmaking. Through analysing over 300 locations by combined use of optimisation and machine learning, we show that competitive renewables-based steel production is located nearby the tropic of Capricorn and Cancer, characterised by superior solar with supplementary onshore wind, in addition to high-quality iron ore and low steelworker wages. If coking coal prices remain high, fossil-free steel could attain competitiveness in…
Citation impact
- FWCI
- 25.06
- Percentile
- 100%
- References
- 33
Authors
4Topics & keywords
- Renewable energy
- Steelmaking
- Fossil fuel
- Iron ore
- Coal
- Environmental science
- Natural resource economics
- Waste management