Australia's Hydrogen Opportunity: Creating Jobs and Revenue by 2050
Key Ideas
  • Australia has the potential to unlock $1.7 billion and create up to 4000 jobs by 2050 through manufacturing equipment for renewable hydrogen production.
  • The country's advantage in renewable energy resources and innovative capabilities positions it to lead in the clean energy sector and support the transition to green hydrogen.
  • The demand for renewable hydrogen is rising globally, offering Australia a significant economic opportunity to develop its electrolyser supply chains and support existing hydrogen projects.
  • Renewable hydrogen is expected to have diverse applications in heavy freight, transport, energy storage, and ammonia production once production scales up.
A recent study by CSIRO Futures has highlighted Australia's potential to generate $1.7 billion in revenue and create 4000 jobs by 2050 through the manufacture of equipment for renewable hydrogen production. The research emphasizes the country's opportunity to lead in the clean energy sector by leveraging its strengths in renewable energy resources and innovative capabilities. The report also underscores the growing global demand for renewable hydrogen, with the International Energy Agency projecting a significant increase in hydrogen production by electrolysis. Australia, with the second-highest number of renewable hydrogen projects in progress, is urged to swiftly capitalize on this emerging market. Dr. Patrick Hartley, the CSIRO Hydrogen Industry Mission leader, emphasized the economic benefits of manufacturing hydrogen electrolysers, highlighting the potential job creation and revenue growth. Additionally, the study points out the various applications for renewable hydrogen in sectors such as heavy freight, transport, energy storage, and ammonia production once commercial production ramps up. By acting promptly and developing its electrolyser supply chains, Australia has the opportunity to establish itself as a key player in the renewable hydrogen industry and support the country's transition to sustainable energy solutions.
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