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Australia prepares a $2 billion plan

New South Wales, the state most associated with coal in Australia, is preparing $2 billion in incentives to install 700 megawatts of electrolyzer over 10 years and halve the cost of renewable H2.

picture on Martin Str Give Pixabay

Green Hydrogen Incentive Scheme Unveiled

(Rinnovabili.it) – $2 billion incentive plan To persuade companies to focus on Australia in the race togreen hydrogen. she has prepared The New South Wales, the state in which Sydney is located and where in 2015 coal still accounted for 80% of the electricity mix and 50% of exports. Today, however, it struggles with accelerating decarbonization.

The path Australia’s most coal-linked state is trying to follow thanks to green hydrogen. The plan includes a big incentive: Exemption of 90% of electricity grid fees for installed electrolyzers by 2030. This step addresses one of the main issues holding back the widespread adoption of renewable H2, namely the production costs that currently make reliance on blue hydrogen more suitable, that is, that which results from pyrolysis starting from natural. Gas (with carbon dioxide recovery).

Read also The cost of renewable hydrogen will make blue hydrogen meaningless

According to an analysis by BloombergNEF, the costs of green hydrogen are set to fall faster than the cost of the blue equivalent. It should be overtaken around 2030, when the level cost of hydrogen (LCOH2) produced from renewable sources is less than Threshold of $2 per kilogram In most markets (and less than $1/kg in 2050). So investing in blue hydrogen will already be risky within 10 years.

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Keep in mind that NSW is making itself, accelerating in renewable H2 and electrolyzers. According to the plan, the goal is Produce 110,000 tons per year of green hydrogen from 700 MW of electrolysis capacity at less than $2.06 per kilogram by 2030. In practice, cut costs in half compared to today’s costs. The positive effects will not only be in reducing emissions (the target is -50% by the end of the decade), but also in decarbonizing heavy industries. Additionally, creating a more mature hydrogen economy would stimulate the economy by moving approximately $450 million.

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