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The article mentions a 5% solar efficiency, it is my understanding that the current most efficient PV panels are around 22% solar efficient. So I would think You may be correct.

It would be nice if they compared PV panel powered electrolysis hydrogen generation against this new tech.

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For many applications, efficiency is not that important. The important metric would instead be $/kwh.

I agree, but isn't that a sad state of affairs?

The Libretarian in me wants to believe that eventually the Efficiency and $/W will balance out but at what real cost?

$/W might make sense from 40,000 feet but the grounded pragmatist in me feels there are other things to consider and confirms this by the ironic inevitably of one of those other things ending up crushing the $/$ formula, and here we are now.......

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