The report by the data and analytics company, released today (May 31), found that renewable hydrogen, as well as adopting electric vehicles, developing ethanol facilities, and encouraging renewable refineries for biofuel uptake, can help the country decarbonise.
Development of the renewable hydrogen market has been accelerating due to support in policies and projects, with the Australian market promising up to eight million tonnes of renewable hydrogen per year by 2030, the report claims.
GlobalData identified that Australia has been one of the top three exporters of hydrogen in the Asia-Pacific region.
Tom Coker, Upstream Analyst at GlobalData, commented, “Based on the trends and regional policies in place, Australia is on track with certain sectors, such as the power and hydrogen sector, but may struggle with other sectors such as electric vehicles, renewable fuels and CCS/CCU projects.
“To overcome this, the Australian federal government need to provide specific policies and active projects to meet their 2050 target.”
The report comes just 10 days after the Australian Federal Election polls opened. Today, Anthony Albanese’s Labour Party has secured a majority in parliament. The result, hailed as a ‘greenslide’, is hoped by many to ramp up Australia’s decarbonisation.
North American Hydrogen Summit
H2 View is taking its events platform to America’s original clean hydrogen hub of California. Together with the California Fuel Cell Partnership (CaFCP), we will stage our North American Hydrogen Summit in San Francisco on July 14-15.
As our summit theme Building Bridges: Hydrogen hubs and investment suggests, the event will explore the $8bn of funding announced to create at least four regional hydrogen hubs in the US. These hubs will turbo-charge the nation’s progress toward heavy trucking and industrial sectors that run without producing carbon pollution – and they may just provide the path forward to a hydrogen-fuelled future.
With California and Texas vying to be America’s hydrogen capital today, where are the hubs of tomorrow? Further still, what can other states, and countries, learn from California’s success story? And how can we build bridges to a successful flow of international investment?
If you are a member of the CaFCP, be sure to grab your ticket at a discounted rate with a code that can be provided to you by the events team.
Full information about this event including attendance and sponsorship packages can be found here.