Australia is aiming to produce the cheapest clean hydrogen in the world, the country’s prime minister Scott Morrison told the Leaders Summit on Climate on April 22.  

“In Australia, our ambition is to produce the cheapest clean hydrogen in the world, at A$2 ($0.77)/kilogram,” he said. “We are investing around A$20bn to achieve ambitious goals that will bring the cost of clean hydrogen, green steel, energy storage and carbon capture to commercial parity. We expect this to leverage more than A$80bn in investment in the decade ahead.” 

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Australia is creating its own ‘Hydrogen Valleys’, he said. This will transform how the country’s transport, mining and resource, manufacturing and fuel and energy production sectors function, he added. 

Australia is on the pathway to net zero, Morrison said. “Our goal is to get there as soon as we possibly can, through technology that enables and transforms our industries, not taxes that eliminate them and the jobs and livelihoods they support and create, especially in our regions.” 

The Australian government will spend A$539.2mn on hydrogen and carbon capture and storage (CCS) projects, the prime minister announced earlier this week. The federal government has also signed an energy deal with the government of the South Australia state. As part of that deal, about A$400mn in federal funding has been allocated for investment in areas such as CCS, electric vehicles, hydrogen and other emissions reduction projects in South Australia.