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The
hydrogen push marks one of the few areas where the conservative
government's ambitions align with renewable energy advocates,
who fear the government's support of coal and gas is thwarting
efforts to cut carbon emissions.
Energy and Emissions Reduction Minister Angus Taylor said the
government has a strong commitment to building a hydrogen
industry, as it will create jobs and billions of dollars in
economic growth over the next several decades.
"Importantly, if we can get hydrogen produced at under A$2 a
kilogram, it will be able to play a role in our domestic energy
mix to bring down energy prices and keep the lights on," Taylor
said in a statement.
As of 2018, it cost between roughly A$5 and A$7 per kilogram to
produce hydrogen, depending on the technology used, according to
the National Hydrogen Roadmap released last year. The roadmap
said production costs would have to come down to between A$2 and
A$3 to be competitive with other energy sources.
The Advancing Hydrogen Fund will be run and paid for by the
government's Clean Energy Finance Corporation (CEFC) and will
focus on projects that demonstrate the technical and commercial
viability of producing hydrogen at large scale.
The CEFC hydrogen fund will be working with the government's
Australian Renewable Energy Agency, which recently called for
bids for hydrogen projects to be backed by A$70 million in
grants.
"We see green hydrogen as offering the most credible pathway to
decarbonisation for high emitting sectors," CEFC Chief Executive
Ian Learmonth said, pointing to the transport and manufacturing
sectors.
(Reporting by Sonali Paul. Editing by Gerry Doyle)
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