Well, it depends on what they mean by “traditional”. There are two ways to make hydrogen. One way is electrolysis. The other is splitting it out of a hydrocarbon. You take a C_something+H_something_else, split out the H, do something with the C. If you capture that C and do something useful with it, you got yourself blue hydrogen. If you don’t, it is called grey hydrogen.
If “traditional” means “grey”, then I would totally expect the cost of green hydrogen (made with electrolysis) to be more expensive. In other words, twice the cost might actually be nothing. I can’t say without the full information.
That’s what is unclear. If you’re comparing with grey hydrogen, this is not necessarily the case. The chart you added sort-of illustrates my point.
I heard 40% to 60% (that is a very wide range, I know!), in a fuel cell. Which is not that bad compared to the alternative (internal combustion), but comes with plenty of caveats, namely that the power density of a fuel cell is poor, and they have a limited lifetime. The membrane apparently doesn’t last forever. When you combine the total efficiency of making the hydrogen (apparently around 75%) with the efficiency of turning it back into electricity in a fuel cell (let’s say 50%), you get an overall efficiency of around 37%… which is indeed probably about on par with a good OCGT, or even a well performing coal plant (with the important caveat that instead of efficiently polluting it is inefficiently not-polluting, so there is that!).
I think there is more to be said about that, and that is something I only started to realise recently. Let me explain by analogy.
Solar panels are only around 20% efficient in converting sunlight into electricity. Pretty terrible, right? Well, in many cases it doesn’t matter. It only matters if you have 1) a lack of space, or 2) a lack of materials. If you can, for little cost (be it monetary of environmental) just build the thing 5 times larger, it doesn’t matter, right?
In the same way, the poor efficiency of the hydrogen chain doesn’t matter, if the rest of the stuff around it can be made at a low enough monetary as well as environmental cost.
The thing is, I don’t think that is going to happen any time soon. I will not say never, but definitely not soon. If you have to build 5 times the generation capacity (apparently, for hydrogen, a best case scenario is twice the capacity, a worst case scenario is ten times the capacity), the carbon footprint of THAT endeavour may well obliterate the equivalent cost of a large battery.
This appears to be one of the bastions of anti-lithium arguments: That making the battery is SO BAD for the environment, that building 5 times more wind turbines and solar panels (with all the associated mining that goes with that!) is less. Somehow… I think they are wishing that their enemy could be a little bit blacker than it really is.
Also see this old video from Jason @ EngineeringExplained explaining (ahem) some of this.