With China, Japan and South Korea recently announcing net zero targets, we can see that the transition from conventional fossil fuels is global and inevitable.
Within this energy transition, hydrogen is gaining increasing global attention for the important role it can play in the future energy mix. In combination with renewable electricity and batteries, clean hydrogen has potential to transform many countries’ energy production and consumption. No longer an idea waiting for its time to come, hydrogen opportunities are now being actively pursued by countries and companies seeking to decarbonise.
Australia is well positioned to take advantage of this opportunity. This has been recognised by Australian policymakers, with a range of national and state strategic and funding announcements supporting the development of a domestic hydrogen industry.
Further, the National Hydrogen Strategy, released this time last year, seeks to position the Australian hydrogen industry as one of the world’s top three hydrogen exporters by 2030. In September this year the Federal Government also released its Low Emissions Technology Statement, which states a ‘stretch target’ of ‘H2 under 2’, which means a price of A$2 per kilogram of hydrogen produced.
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