KPMG recently welcomed the CSIRO National Hydrogen Roadmap on clean hydrogen opportunities for Australia.
Calling for strategic investment in clean hydrogen to drive positive energy, transport and industrial sector outcomes KPMG say there is growing interest in clean hydrogen and its potential as a versatile energy carrier and feedstock in Australia.
They highlighted the potential for clean hydrogen to enable profound decarbonisation across the energy, transportation and industrial sectors.
Ted Surette, ENR national leader at KPMG Australia welcomed the milestone release of the Hydrogen Roadmap. He said the detailed report, which frames the best pathways to achieving an economically sustainable hydrogen industry in Australia, was highly relevant and timely in the current marketplace.
“The Roadmap is the start of a journey requiring strong leadership to enable Australia to develop a market for clean hydrogen – a fuel that is becoming more important and competitive by the day,” said Surette.
He said that a clean hydrogen industry in Australia could help build an already developing sustainable economy, assist with concerns around energy security, and help meet emissions targets.
“The global commitments made towards more clean energy and transport options are motivating other countries to look at additional pathways to decarbonisation. At the same time, technologies across the supply chain are gaining maturity and costs are coming down. That means clean hydrogen is well positioned to be part of the energy solution and Australia can take a leadership stand.”
KPMG director and hydrogen expert Gustavo Gomberg said that as a flexible energy carrier, hydrogen could transform Australia’s energy and transport markets but only if it was clean.
“When burned in a fuel cell, the only by-product is water,” said Gomberg “Hence, all the focus needs to be on the production of hydrogen. For this to be clean, hydrogen must be produced from either fossil fuel with CO2 capture, utilization, and/or a sequestration solution or through electrolysis utilising renewable energy. In fact, hydrogen can become the real driver for further acceleration of deployment of renewable projects.”
KPMG’s view is that, through technology, hydrogen can resolve the intermittency of solar and wind, reduce curtailment, provide additional storage and enhance grid stability and reliability.
However, Surette also pointed to the risk side saying that one of the biggest challenges for Australia’s development of a clean hydrogen marketplace is the lack of infrastructure.
“In its National Hydrogen Roadmap, CSIRO has called for a policy framework that would create a ‘market pull’ for hydrogen. That is a most important call to action which our firm supports,” said Surette.
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