A new report by Advisian for the Clean Energy Finance Corporation looks at green hydrogen in 2020, 2030 and 2050, and found it was already near cost competitive in heavy trucking, buses and remote power industries versus incumbent technologies.
The Australian Hydrogen Market Study, prepared by energy analysts Advisian (a division of Worley Group), also found cost competitiveness could be reached in further transport sectors by the end of the decade.
It advises large-scale development as essential to pushing down installation and commissioning costs, “similar to the accelerated development experienced by Australia’s large scale renewable energy sector.”
Ian Learmonth, CEFC CEO, said in a statement that, “As with any new technology, costs will decline over time.
“The purpose of this analysis is to give industry participants and investors an understanding of the potential economics for the uses of hydrogen in the Australian context, including potential early adopters.”
Key drivers for green hydrogen competitiveness included:
The study can be downloaded here.
The launch coincides with the 2021 Australian Hydrogen Conference, running on Wednesday and Thursday at the International Convention Centre Sydney.
Picture: Hydrogen Park SA (www.growthstate.sa.gov.au)
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