GenCost is a leading annual economic report that estimates the cost of building new electricity generation, storage and hydrogen production in Australia to 2050. This report recognises that Australia’s future electricity system needs a mix of technologies to remain reliable, secure and flexible – with cost being just one part of the equation.

The draft report for consultation of an annual assessment of the costs of electricity generation, energy storage and hydrogen production technologies. It finds for the seventh year in a row, renewables have the lowest cost range of any new electricity generation, despite varied inflationary impacts across technologies.

Each year, the CSIRO and the Australian Energy Market Operator collaborate with industry stakeholders to update GenCost. This leading economic report estimates the cost of building new electricity generation, storage, and hydrogen production in Australia out to 2050.

Recently there has been a considerable amount of work undertaken (both globally and domestically) seeking to quantify the economic opportunities associated with hydrogen. The National Hydrogen Roadmap takes that analysis a step further by focusing on how those opportunities can be realised.

This report establishes a framework for understanding the range of low emissions technologies available, current barriers and enablers to deployment. The technologies are grouped according to a series of options or ‘pathways’ that the Australian Government could invest in.