BloombergNEF’s latest modelling has found that solar PV is the key driver behind an accelerating cost decline in green hydrogen. The forecast shows green hydrogen’s cost declining by 85% by 2050, undercutting natural gas as well as both blue and grey hydrogen production.
National Energy Resources Australia has actioned its instructions from the 2019 National Hydrogen Strategy by investing an initial $1.75 million in 13 regional clusters across all states and territories designed to establish Australia’s global identity in hydrogen technology and expertise.
The Sumitomo Corporation has simultaneously signed a contract with an EPC for a solar-powered green hydrogen production plant in Gladstone, Queensland, while also commencing a feasibility study for a grey-green hybrid hydrogen project in Oman. Considering the relative similarities in distance between the two countries and export markets in East Asia, the Japanese conglomerate looks to be setting the stage for competition in the hydrogen economy.
The European Commission has sent the European Green Deal on its way and a preliminary version of its anticipated hydrogen strategy has been leaked. The plan does not lack ambition, as the EU seeks to assert tech leadership in green hydrogen through coordinated efforts across the value chain.
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