Chief Scientist Dr Alan Finkel AO breaks down the obstacles and identifies the opportunities for Australia to build a hydrogen economy and transition to a low emissions energy future.
In this episode, NERA CEO Miranda Taylor talks with Australia’s Chief Scientist Dr Alan Finkel AO about how the world’s transition to a low emissions energy future is already leading to an increase in global demand for hydrogen, and this is likely to increase substantially over coming decades, and how Australia is remarkably well positioned to benefit from this growth through hydrogen technologies, industries and markets.
As Chair of the national Hydrogen Working Group, Dr Finkel AO breaks down the obstacles that will need to be overcome for hydrogen to become competitive at scale, and identifies realistic timeframes for Australia to build a hydrogen economy based on three key opportunities: hydrogen for export; hydrogen for the domestic economy, including transport, heating and industrial processes; and hydrogen for energy storage, flexibility and resilience.
With Australia well positioned to support the development of a clean, innovative and competitive hydrogen industry, our nation is a prime contender to be a leading global supplier of not just hydrogen but the knowledge and technologies that support it, which could result in, for example, an export industry worth $1.7 billion by 2030 and provide 2,800 jobs, with many of these jobs being in regional areas, and with spin off opportunities across the energy, resources, manufacturing, services, transport and education sectors. (Source ACIL Allen Report for ARENA, Opportunities for Australia from Hydrogen Exports).
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