The Australian government has made available 300 million Australian dollars (178 million euros) to advance hydrogen projects using low-cost financing. The country wants to build infrastructure for the hydrogen industry by 2030, according to the Reuters news agency, citing Australian Minister for Energy and Emissions Reduction, Angus Taylor.
Advancing hydrogen technology is one of the few areas where the Conservative government's ambitions align with those of renewable energy advocates, who fear the government's support for coal and gas is thwarting efforts to cut carbon emissions.
Angus Taylor expects the development of a hydrogen industry to generate a significant number of new jobs and “billions of euros in economic growth” over the next few decades. It is important that hydrogen, if produced at a price of less than AUD 1,18 (EUR XNUMX) per kilogram, can play a role in the domestic energy mix in order to reduce energy prices.
As of 2018, according to Reuters, the production of hydrogen cost between around five and seven AUD (2,96 and 4,15 EUR) per kilogram, depending on the technology used. The “National Hydrogen Strategy” envisages production costs between two and three AUD (1,18 and 1,77 EUR) in order to be competitive with other energy sources, the agency said.
The Advancing Hydrogen Fund is managed and funded by the government's Clean Energy Finance Corporation (CEFC) and focuses on projects that demonstrate the technical and commercial viability of large-scale hydrogen production. The Australian Renewable Energy Agency (ARENA) invited bids for hydrogen projects in April, which are to be supported with AUD 70 million (EUR 41,4 million) in the form of grants.
Deep link:
https://www.reuters.com/article/us-australia-hydrogen/australia-to-pour-190-million-into-hydrogen-projects-idUSKBN22G03S
https://arena.gov.au/news/arena-opens-70-million-hydrogen-deployment-funding-round/
Photos:
(c) ARENA, Australian Renewable Energy Agency
