People have used citric acid, which is also less expensive, and it seems to work but just takes somewhat longer. I know that oxalic acid is also a reducing agent so in theory it should work, but I don't know how well.

As for preventing algae, one usually adds PolyQuat 60 to the water when doing an ascorbic acid (or citric or oxalic acid) treatment in order to prevent algae from growing during the treatment.