AUS
NZ
UK
CA
USA
IND
.png)
Highlights
- Hydrogen is one of the most adaptable energy sources that can be generated from various sources.
- Australia and the Middle East are two of the biggest players of green hydrogen in the world.
- Currently, more than 350 hydrogen-related projects are under development across the globe.
The whole world is looking for opportunities in the clean energy sector. Wind, solar, and geothermal sources of clean energy are the pioneers of alternative energy. However, hydrogen is slowly working its way into the conversation. Hydrogen is one of the most adaptable energy sources that can be generated from various sources.
Good Read: The Rising Role of Hydrogen in Canada’s Zero Emissions 2050 Target
Hydrogen produced through the electrolysis of water is known as green hydrogen, and the other which is produced with the help of natural gas is known as blue hydrogen. Green hydrogen provides a very good opportunity to private institutions and worldwide governments to harness immensely valuable sustainable energy. So, let us try to understand who are the biggest players of green hydrogen in the market.
Biggest players of green hydrogen
Potentially, Australia and the Middle East are two of the biggest players of green hydrogen in the world which hold a huge opportunity to become the leading suppliers in coming years.
Also Read: Climate Investments Must Triple By 2030 To Save Nature: UN
Source: © Andreus | Megapixl.com
However, the race to become a significant supplier is not limited to these two nations alone, with soaring demand for low-carbon hydrogen, various countries across the globe have announced their plans to build hydrogen export capacities.
However, today nearly three-fifths of the total green hydrogen-related projects are running in Australia and the Middle East. Among the two, Australia has an edge in exporting the sustainable form of hydrogen to Northeast Asia due to its strong existing relationship with the region. The country is already a significant exporter of various minerals and natural resources.
Don’t Miss: Biden's push for hydrogen fuel adds muscle to the climate fight
Australian Green hydrogen potential
Currently, more than 350 hydrogen-related projects are under development across the globe, and with a proper policy set in place, hydrogen energy is expected to fulfil as much as 24% of the world’s total energy demand by 2050.
Source: © Mrdoomits | Megapixl.com
Emerging export-focused green hydrogen projects point out Australia’s ability to excel in the post-carbon world. Since the country is strategically located so, it could help the nation to maintain diplomatic relations with key customers as they seek to reduce their carbon emissions to attain their carbon-neutrality goal. Japan & South Korea are the emerging centres of Indo-Pacific hydrogen.
Good Read: 5 ASX green hydrogen stocks for the next 5 years and beyond
Australia has the potential to explore this opportunity to reduce its reliance on Chinese mineral trade to drive the economy. Additionally, it will also help to build a well-functioning Indo-Pacific hydrogen market that will be unaffected by natural disasters.
How is Australia placed on green hydrogen front
Bottom Line
Demand for clean and renewable sources of energy is increasing as a part of the global mission to reduce carbon footprints and attain carbon neutrality in the coming decades. Australia has a huge potential to become a significant player in green hydrogen amid soaring demand for alternative energy.
