Hydrogen is gathering significant momentum globally as it shifts to becoming an economically viable and flexible fuel and energy carrier. It is a key part of the rapid and widespread deployment and international trade of renewable energy.
Decreasing electrolyser and renewable energy costs, as well as increasing demand for widespread decarbonisation, has grown the appetite for hydrogen within industries such as automotive, power, gas and water utilities, manufacturing, refining and other industrial markets.
The last five years has seen the release of a significant number of international hydrogen strategies by countries around the world, all of which outline the economic and clean energy benefits of hydrogen and detail funding commitments and plans to implement hydrogen projects and initiatives.
As at August 2022, there were 26 countries which had published a hydrogen strategy, 24 countries which were preparing national strategies, and 17 countries that were in initial policy discussions.1 With its natural resources, established industries and geographical proximity to major markets, there is an opportunity for Australia to become a world leader across the hydrogen supply chain. This includes producing, transporting, distributing and storing hydrogen, blending it into gas networks, and using it as a transport and export fuel.
Establishing Australia as a “major player” in the global hydrogen economy and building a robust and effective hydrogen supply chain in Australia was the aspiration outlined in the 2019 Australian National Hydrogen Strategy. Achievement of this aspiration and the desired hydrogen economy.
