MOSTI expect hydrogen energy to cost 15 sen KWh within five years

Its minister, Chang Lih Kang said currently this energy is being sold between 60 and 80 sen kWh in the local market.

"Now it is expensive because the market is not (fully) built yet. When users and the entire ecosystem is complete, then there will be more users and the production price will go down," he told reporters after launching the Hydrogen Generator (HyPEReactor) by NanoMalaysia Bhd here today.

At the event, Chang also personally tested the use of hydrogen as a fuel in a racing car while accompanied by NanoMalaysia chief executive officer Dr Rezal Khairi Ahmad.

Earlier in his speech, Chang said this effort proves the potential of hydrogen power as an alternative fuel based on demand and was a new approach for more efficient energy solutions.

"Based on the planning of the Hydrogen Economy and Technology Roadmap (HETR), the ministry hopes to lead in the development of the hydrogen economy by 2050.

"This will simultaneously show our commitment to improving the environment, reducing carbon emissions as well as increasing energy transition for a more sustainable industry," he also said.

On Oct 5, Deputy Prime Minister Datuk Seri Fadillah Yusof launched the HETR which will place Malaysia in the forefront of the energy transition to become a regional leader in the renewable energy industry.

Fadillah, who delivered the opening keynote address on behalf of Prime Minister Datuk Seri Anwar Ibrahim, said the successful implementation of the HETR will enable Malaysia to explore the global green hydrogen market which is estimated to be worth at least US$189.19 billion (RM824 billion) by 2050.