If a hydrogen plant had been operational in South Australia this summer, it could have made a profit of $2.3m – that’s according to research released today (20th April) by Cornwall Insights Australia.
This figure is based on a 20% utilisation and includes the expected quarterly repayment on the $593m of government debt with interest, operating costs and the net cost of the energy.
In addition to this, the report states that if the plant had been available last summer (2020), it could have made $47m profit opposed to a $2.3m loss in summer Q1.
This exhibits the rate at which the hydrogen market is developing, with increased profit shown in this plant, into a lucrative sector and one that governments and companies around the world should take advantage of.
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