Electrolyser Deployments
Electrolyser MW installed by technology — the true state of the electrolyser fleet.
The real electrolyser fleet is measured in a few hundred MW, not the tens of GW announced. PEM leads on deployed MW; alkaline retains a large project-backlog.
PEM's response time and load-following advantage explain its lead in demonstration-scale sites. Alkaline's cost per kW will bring it back once utility-scale projects reach FID at pace.
Announced-to-deployed conversion is the KPI to watch. Every deployed MW converts to visible LCOH data — the rest is a promise.
Manufacturers with deployed references, not just letter-of-intent MW, command a valuation premium heading into 2025 project tenders.
| Year | Technology | MW added |
|---|---|---|
| 2024 | Alkaline | 34.2 |
| 2024 | Proton Exchange Membrane | 93.2 |
| 2024 | Unknown | 14.6 |
MW deployed by technology and year.
Data © original publishers (EHO, IEA). Original analysis, verification, and column engineering © ReneEnergy. The original publishers have not reviewed or endorsed this dataset.