The Australian government has suggested green hydrogen is likely to become more cost-effective form than hydrogen derived from fossil fuel-based sources before the end of the decade, in time for the industry to develop hydrogen utilization and supply chain systems at the necessary global scale. However, electrolysis efforts from renewable energy sources are expected to cost less than $2 a kilogram by 2030, which would negate any need for continued investment in hydrogen production from fossil fuel-based sources. The International Renewable Energy Agency (IEA) recognizes the contributions of China, Germany, and Japan towards hydrogen production from renewable energy sources, and the ability to create thousands of jobs and over US$10b per year from the sector.
Australia's plans for the Asian Renewable Energy Hub in Pilbara may yield 1,600 large wind turbines and 78sq km of solar panels working to power 14 gigawatts of hydrogen electrolysers.
Additional details on the potential future of the hydrogen market are available at the link below: