As countries seek to reshape their economies to recover from the COVID-19 pandemic, Many governments around the world have turned to hydrogen production as a suitable and sustainable option for this stage. It would play a vital role in the future of energy production as the world moves away from non-renewable energy. In Australia, Within the national hydrogen strategies, The Australian Geoscience Australia and Monash University launched, An open-source economic model for studying the economic feasibility of hydrogen investments across the country, This is to assist decision-makers in planning and developing for the future.
The Covid-19 pandemic has imposed an unprecedented crisis that has affected all countries without exception, It has left leaders, policymakers and business leaders with the challenge of reviving their economies. Among the various plans and directions followed by the governments of the countries, Focus on reducing greenhouse gas emissions that cause global warming first, Invest in technologies that focus on long-term methodological solutions Second, of which hydrogen was the first, Hydrogen technologies can provide cleaner, safer and more sustainable economies. They provide zero-emission fuels for mining and long-distance transportation, and raw materials that can be used in heavy industry with a significant reduction in greenhouse gas emissions. These technologies also provide security services to the electricity grid and give it flexibility, It allows the replacement of natural gas in household networks.
As a country rich in natural resources, Australia has the means to produce large quantities of green hydrogen at competitive prices. This production serves the local economy not only by reducing greenhouse gas emissions, Hydrogen is a commodity exported to countries such as Japan, South Korea, Singapore and Germany at a price ranging from $3 to $4.5 per kilogram of hydrogen produced from wind or solar energy. This includes the cost of transportation. Therefore, The Australian Geosciences Organisation (ASGSO), in collaboration with Monash University, has launched an open-source economic model that examines the economic feasibility of hydrogen operations across Australia. It is called the Hydrogen Economic Pathways Instrument (HEFT), which are designed to support the implementation of national hydrogen strategies.
Whereas the Australian Federal Government has launched the National Hydrogen Strategy, All states are involved in different plans and actions to raise Australia’s position in the global hydrogen market by 2030. Despite those efforts, Hydrogen production in Australia has not yet reached large-scale levels. Many pilot projects are spread in the country and are in different stages of development, But they sometimes falter due to poor planning or the absence of realistic and effective studies of their feasibility.
Hence the importance of this innovative tool, It can carry out detailed geographic and financial analyses of future large-scale projects targeting hydrogen production. The tool also has the ability to assess the quality of energy resources needed to produce clean hydrogen. between energy produced from wind, solar or fossil fuels, methane to hydrogen or carbon capture and storage, and the use of the latter process to produce hydrogen from coal. The tool also targets railways, associated roads and pipelines to export ports as part of its study of transport network infrastructure, It is also ready to study the availability of water in the list of analyses.
The government aims to produce hydrogen at a cost of two dollars per kilogram. This is linked to factors such as the rate of technology dependence, low cost, supply chain network and adequate infrastructure. This poses a challenge for the government to secure all these factors, From hydrogen production plants, renewable electricity and fuel generation facilities, carbon dioxide capture and storage technologies, specifications for ports and transport networks required, and taxes to be levied on companies.
According to the preliminary findings of the Hydrogen Economic Pathways Instrument (HEFT), It turns out that Australia has many areas that are eligible for hydrogen production in a way that achieves the desired economic feasibility. These areas are also spread across all Australian states and territories, Some have additional potential to become stronger candidates to become hydrogen hubs by 2030.
The diverse and interactive nature of the Hydrogen Economic Pathways (HEFT) tool allows users to explore economic relationships within the hydrogen supply chain, Identify the main variables governing the cost of clean hydrogen production in Australia. Thus, The tool will benefit investors and policymakers, It will assist in decision-making on the location of new infrastructure, It contributes to the development of hydrogen centres in Australia.
The second version of the tool is scheduled to be launched this year. It is currently being worked on through the federal government’s “Exploring the Future” program, The second version will add water power, hydraulic pumping, and hybrid wind and water as new inputs for hydrogen production. It will also focus on underground storage options, This is with the aim of storing hydrogen and its widespread use.
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