CANBERRA, Dec. 4 (Xinhua) -- Manufacturing devices that generate hydrogen from water is a billion-dollar economic opportunity for Australia, according to the national science agency.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) on Wednesday published a report that projected Australia's hydrogen electrolyzer manufacturing (HEM) industry could generate 1.7 billion Australian dollars (1.1 billion U.S. dollars) in annual revenue and employ 4,000 people by 2050.
Hydrogen electrolyzers use electricity to split water into oxygen and hydrogen, which can then be used as a clean-burning alternative to fossil fuels.
The CSIRO report found that Australia could be a key player in the global transition to renewable hydrogen production, with emerging electrolyzer manufacturers translating research innovations and a significant pipeline of domestic projects.
"Building an electrolyser manufacturing sector isn't just about meeting immediate demand; it's an opportunity to develop an industry that adds long-term value to our economy and strengthens our energy security through building sovereign manufacturing capability," Vivek Srinivasan, CSIRO Futures Energy Lead, said on Wednesday.
"Australia can become a player in this rapidly emerging sector - but we must act quickly while the opportunity is available to us."
The report called for a coordinated approach across research, industry and government to realize the full potential of the sector.
It said that electrolyzer installation services could generate an additional 1.2 billion AUD (778 million USD) in annual revenue by 2050.
The federal government in September released the 2024 National Hydrogen Strategy, setting an annual target of at least 15 million tons of renewable hydrogen production by 2050.
The strategy set a goal of at least 200,000 tons of hydrogen exports by 2030.
The government estimates that the country's hydrogen industry could be worth 50 billion AUD (32.4 billion AUD) annually by 2050. ■
