According to The Australian Financial Review, Australia’s energy transition will happen even faster than already envisaged if strong global action to limit emissions spurs significant technological breakthroughs in developing hydrogen as a zero-emission fuel source earlier than anticipated.
Australian Energy Market Operator said the “hydrogen superpower” scenario would be triggered by technological breakthroughs that enable a kilogram of hydrogen to be produced for under $2 – a milestone that many believe could be up to a decade away despite huge investment and government support.
The two most important components of producing hydrogen are electrolysers and the cost of energy, though a rapid increase in zero-emission energy generation could reduce wholesale prices.
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