We have performed an evaluation of the end-use price of photovoltaically produced hydrogen. Our evaluation is optimistic as current estimates of photovoltaic energy costs by other authors generally correspond to higher figures, and evaluations of process and transportation costs have usually taken into account only the main components. Hydrogen is considered to be tax-free. A more realistic evaluation should be based on a fractional tax reduction over the short term, followed by full taxation in later years. Under these conditions, photovoltaic hydrogen as a fuel has proved to be non-competitive except in the transport sector.