GlobalData has said that in its bid to meet 2050 zero-emission targets, Australia plans to develop low-carbon hydrogen markets across all industries and increase carbon capture and storage (CCS) projects.
The report by the data and analytics company, released today (May 31), found that renewable hydrogen, as well as adopting electric vehicles, developing ethanol facilities, and encouraging renewable refineries for biofuel uptake, can help the country decarbonise.
Development of the renewable hydrogen market has been accelerating due to support in policies and projects, with the Australian market promising up to eight million tonnes of renewable hydrogen per year by 2030, the report claims.
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