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The economic value of government precompetitive geoscience data and analysis for Australia's hydrogen industry

<div>Hydrogen is expected to be a key driver of the globe’s transition to net zero. &nbsp;</div><div>Australia is investing significantly, across government and business, as it pushes towards scalable and cost-effective hydrogen production. The Australian Government wants to develop and cultivate the domestic hydrogen industry to become a hydrogen superpower – exporting clean energy across the globe. With current expectations that the hydrogen industry could add an additional $50 billion to Australia’s GDP, the industry presents a great opportunity to support economic growth as Australia transitions to net zero (DCCEEW, 2022a). &nbsp;</div><div>However, much of hydrogen production remains unproven commercially at the necessary scale and there are still a lot of unknowns about how to effectively build this industry in Australia. &nbsp;</div><div>Geoscience Australia (GA), as Australia’s national geoscience agency, is undertaking precompetitive geoscience data and analysis to support the hydrogen sector. This includes conducting research and data analysis to lower the risk of exploration for natural hydrogen and salt caverns, the development of tools to support decision-making by hydrogen producers, and economic assessments into the feasibility of green steel production.&nbsp;</div><div>The economic benefits of precompetitive geoscience data and analysis for the hydrogen industry Deloitte Access Economics (DAE) was engaged to identify, quantify and, where possible, monetise the economic benefits of GA’s work across four case studies. &nbsp;</div><div>As hydrogen is a nascent sector, there is little to no current commercial activity. This limits the ability to estimate the full extent of the economic benefits of GA’s work. As the hydrogen industry matures over the next five years, we expect more economic benefits will be realised, particularly as tenement uptake translates into hydrogen production. &nbsp;</div><div>Through analysis of four current case studies, it is evident that GA’s work is providing clarity and confidence to support large-scale investment decisions. Overall, GA’s work has the potential to deliver Australia an important competitive advantage and fast-track development of the local hydrogen industry. &nbsp;</div><div>Hydrogen Economic Fairways Tool (HEFT): found to enable timely and informed decision-making and lower the risk of investing in, and entering, the hydrogen industry. Specifically, the tool provides significant efficiencies for hydrogen companies, saving $30,000 to $50,000 per prospective project in time and reduced due diligence costs. &nbsp;</div><div>GA research on natural hydrogen: expected to have stimulated tenement uptake activity in South Australia, to explore for natural hydrogen. If even just one tenement was taken up as a result of GA’s data, it could be associated with economic benefits of around $22 million to the hydrogen industry, over a ten-year period (2022-23 to 2031-32). &nbsp;</div><div>GA research on salt cavern storage: hydrogen storage can be prohibitively expensive, which can stall the development of hydrogen projects. GA’s research highlighted salt caverns as a cheaper alternative. If just one industry player switched from conventional gas storage to salt caverns, salt cavern storage could lower the cost by $208 million, over ten years. In addition, salt cavern storage could avoid the loss of $4.1 million worth of hydrogen over the same period (2022-23 to 2031-32). &nbsp;</div><div>The techno-economic assessment of green steel production: GA’s research identified cost-effective locations for green steel production, which could be competitive with conventional steel at a carbon price of $148 per tonne of carbon dioxide&nbsp;</div><div><br></div><div><br></div>

Simple

Identification info

Date (Creation)
2023-08
Date (Publication)
2023-08-14T23:59:24
Citation identifier
Geoscience Australia Persistent Identifier/https://pid.geoscience.gov.au/dataset/ga/148642

Citation identifier
Digital Object Identifier/https://dx.doi.org/10.26186/148642

Cited responsible party
Role Organisation / Individual Name Details
Publisher

Commonwealth of Australia (Geoscience Australia)

Voice
Author

Deloitte Access Economics

External Contact
Editor

Czarnota, K.

Internal Contact
Editor

Feitz, A.

Internal Contact
Purpose

Deloitte Access Economics (DAE) was engaged to estimate the economic benefit that Geoscience Australia (GA) delivers for Australia’s hydrogen industry, and the broader economy, through the provision of precompetitive geoscience data and analysis.

Status
Point of contact
Role Organisation / Individual Name Details
Resource provider

Minerals, Energy and Groundwater Division

External Contact
Point of contact

Commonwealth of Australia (Geoscience Australia)

Voice
Point of contact

Czarnota, K.

Internal Contact
Spatial representation type
Topic category
  • Geoscientific information

Extent

N
S
E
W


Maintenance and update frequency
As needed

Resource format

Title

Product data repository: Various Formats

Website

Data Store directory containing the digital product files

Data Store directory containing one or more files, possibly in a variety of formats, accessible to Geoscience Australia staff only for internal purposes

Project
  • EFTF – Exploring for the Future

Project
  • EFTF

Project
  • return on investment

Project
  • ROI

Project
  • Hydrogen case studies

Project
  • precompetitive geoscience data

Project
  • Deloittes Access Economics

Keywords
  • hydrogen

Keywords
  • Green hydrogen

Keywords
  • hydrogen opportunities

Keywords
  • natural hydrogen

Keywords
  • Hydrogen Economic Fairway Tool

Keywords
  • Salt

Keywords
  • Hydrogen Storage

theme.ANZRC Fields of Research.rdf
  • Other Earth Sciences

Keywords
  • Published_External

Resource constraints

Addressee
Role Organisation / Individual Name Details
User

Any

Use constraints
License
Use constraints
Other restrictions
Other constraints

© Commonwealth of Australia (Geoscience Australia) 2023

Resource constraints

Title

Australian Government Security Classification System

Edition date
2018-11-01T00:00:00
Website

https://www.protectivesecurity.gov.au/Pages/default.aspx

Classification
Unclassified
Classification system

Australian Government Security Classification System

Language
English
Character encoding
UTF8

Distribution Information

Distributor contact
Role Organisation / Individual Name Details
Distributor

Commonwealth of Australia (Geoscience Australia)

Voice facsimile
OnLine resource

Download the Report (pdf) [13.93 MB]

Download the Report (pdf) [13.93 MB]

Distribution format
  • pdf

Resource lineage

Statement

<div>This report was commissioned by the Exploring for the Future Program to estimate the economic benefit that Geoscience Australia (GA) delivers for Australia’s hydrogen industry, and the broader economy, through the provision of precompetitive geoscience data and analysis.</div>

Metadata constraints

Title

Australian Government Security Classification System

Edition date
2018-11-01T00:00:00
Website

https://www.protectivesecurity.gov.au/Pages/default.aspx

Classification
Unclassified

Metadata

Metadata identifier
urn:uuid/1a5e4572-ab70-46dd-9f07-a75c973b0fc8

Title

GeoNetwork UUID

Language
English
Character encoding
UTF8
Contact
Role Organisation / Individual Name Details
Point of contact

Commonwealth of Australia (Geoscience Australia)

Voice
Point of contact

Czarnota, K.

MEG Internal Contact

Type of resource

Resource scope
Document
Name

GA Report

Alternative metadata reference

Title

Geoscience Australia - short identifier for metadata record with

uuid

Citation identifier
eCatId/148642

Metadata linkage

https://ecat.ga.gov.au/geonetwork/srv/eng/catalog.search#/metadata/1a5e4572-ab70-46dd-9f07-a75c973b0fc8

Date info (Creation)
2023-08-13T23:03:15
Date info (Revision)
2023-08-13T23:03:15

Metadata standard

Title

AU/NZS ISO 19115-1:2014

Metadata standard

Title

ISO 19115-1:2014

Metadata standard

Title

ISO 19115-3

Title

Geoscience Australia Community Metadata Profile of ISO 19115-1:2014

Edition

Version 2.0, September 2018

Citation identifier
http://pid.geoscience.gov.au/dataset/ga/122551

 
 

Spatial extent

N
S
E
W


Keywords

Deloittes Access Economics EFTF EFTF – Exploring for the Future Hydrogen case studies ROI precompetitive geoscience data return on investment
theme.ANZRC Fields of Research.rdf
Other Earth Sciences

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