Potential of Hydrogen as a clean energy source
Team Veye | 28-Sep-2022
- Due to a combination of natural advantages, Australia has the potential to become one of the world’s biggest clean energy producers.
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- Ranking 7th in the Renewable Energy Country Attractiveness index, renewables account for 27% approx. of total electricity generation.
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- Australia is already undergoing a major energy transition as per its plan to achieve net zero carbon emissions by 2050.
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- Many countries in the world, like Japan and Korea, while aspiring to phase out fossil fuels, are determined to build their hydrogen energy base. Australia, while already supplying hydrogen to them has a pipe dream to become a world leader in hydrogen.
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- Hydrogen provides a safe and clean energy source. The chemical energy of hydrogen is used by a hydrogen fuel cell to produce electricity. The energy is clean form of energy with electricity, heat and water being the only products and by-products.
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- The IEA (International Energy Agency) and the World Energy Council have both identified Australia as a potential hydrogen production powerhouse and an ideal place to scale production.
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- The Australian Government is investing more than A$1.2 billion, including A$464 million, for up to seven clean hydrogen industrial hubs.
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