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  "documentTitle": "Lazards Lcoeplus",
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  "notes": "This is an introductory/disclaimer slide for a Lazard report.",
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      "text": "Other factors would also have a potentially significant effect on the results contained herein, but have not been examined in the scope of this current analysis. These additional factors, among others, could include: implementation and interpretation of the full scope of the IRA; development costs of the electrolyzer and associated renewable energy generation facility; conversion, storage and transportation costs of the hydrogen once produced; additional costs to produce alternate products (e.g., ammonia); costs to upgrade existing infrastructure to facilitate the transportation of hydrogen (e.g., natural gas pipelines); electrical grid upgrades; costs associated with modifying end-use infrastructure/equipment to use hydrogen as a fuel source; potential value associated with carbon-free fuel production (e.g., carbon credits, incentives, etc.). This analysis also does not address potential environmental and social externalities, including, for example, water consumption and the societal consequences of displacing the various conventional fuels with hydrogen that are difficult to measure",
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      "text": "As a result of the developing nature of hydrogen production and its applications, it is important to have in mind the somewhat limited nature of the LCOH (and related limited historical market experience and current market depth). In that regard, we are aware that, as a result of our data collection methodology, some will have a view that electrolyzer cost and efficiency, plus electricity costs, suggest a different LCOH than what is presented herein. The sensitivities presented in our study are intended to address, in part, such views",
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      "text": "An overview of the current commercial context for hydrogen in the U.S.\nComparative and illustrative LCOH analysis for various hydrogen power production systems on a $/kg basis\nComparative and illustrative LCOE analysis for gas peaking generation, a key use case in the U.S. power sector, utilizing a 25% blend of Green and Pink hydrogen on a $/MWh basis, including sensitivities for U.S. federal tax subsidies\nDeconstruction of the LCOH for Proton Exchange Membrane (\"PEM\") and alkaline-based electrolyzers by water and electricity cost, capital cost, O&M, warranty expenses and electrolyzer stack replacement\nAppendix materials, including:\nAn overview of the methodology utilized to prepare Lazard's LCOH analysis\nA summary of the assumptions utilized in Lazard's LCOH analysis",
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      "kind": "paragraph",
      "text": "Lazard's Levelized Cost of Hydrogen (\"LCOH\") analysis addresses the following topics:",
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