(Australian Associated Press)
Scientists working on hydrogen energy projects are being urged to apply for a slice of $70 million in federal government funding.
The government is eyeing hydrogen as a potential energy source to help prop up the economy in the future when fossil fuels are in less demand.
Energy Minister Angus Taylor has set a goal for hydrogen to be $2 per kilogram or under.
“That’s the point where hydrogen becomes competitive with alternatives in large-scale deployment across our energy systems,” he said on Wednesday.
Mr Taylor says hydrogen is not yet economic for large-scale deployment.
“This $70 million funding round will help demonstrate the technical and commercial viability of hydrogen production at a large-scale using electrolysis,” he said.
The economic goal for hydrogen, which Mr Taylor has dubbed “H2 under 2”, is the first target unveiled from the government’s technology roadmap.
The remaining economic goals for energy sources are expected to be released soon.