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.
- Ranking 7th in the Renewable Energy Country Attractiveness index, renewables account for 27% approx. of total electricity generation.
- Australia is already undergoing a major energy transition as per its plan to achieve net zero carbon emissions by 2050.
- 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.
- 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.
- 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.
- The Australian Government is investing more than A$1.2 billion, including A$464 million, for up to seven clean hydrogen industrial hubs.
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.