According to a new report analysis, Australia is on track to become a global leader in the production of inexpensive and clean hydrogen by 2030.
Since the National Hydrogen Strategy was launched in 2019, the initial State of Hydrogen report gives a glimpse of Australia’s progress against worldwide developments.
The research highlights that progress on demand-side indicators has been slower than expected in the establishment of any new industry.
The sector is likely to face challenges such as lowering hydrogen distribution costs, increasing demand, and attaining low-cost hydrogen generation at scale.
Australia’s fast growing hydrogen industry, according to Minister for Industry, Energy and Emissions Reduction Angus Taylor, is well positioned to take advantage of global momentum to unlock cheap, clean energy.
“The inaugural State of Hydrogen report confirms we are already making significant progress towards the Australia’s shared vision to become a major global player in hydrogen by 2030,” Minister Taylor said.
“Make no mistake – we are world leading. Australia has the largest pipeline of announced clean hydrogen projects in the world, a very significant achievement.
“These projects are helping us to grow our capability and overcome expected challenges as we set out to reach our hydrogen production goal of $2 per kilogram.
“I know from my ongoing conversations with potential international customers in countries such as Korea and Japan that the demand for Australian hydrogen is strong. The Government will continue to focus on reducing the cost of hydrogen to meet customer needs.”
Through the $464 million Clean Hydrogen Industrial Hubs program, the government will help the industry grow and support local demand.
The government has also set aside $565.8 million in the budget for 2021-2022 to build low-emission technological partnerships.
The inaugural State of Hydrogen report can be found at: http://industry.gov.au/StateOfHydrogen2021
