Australia has unveiled its National Hydrogen Strategy, setting the stage for the country to become a global leader in clean energy, as revealed in a media release.
In particular, the blueprint outlines plans to develop new domestic clean energy manufacturing capabilities and tap into massive export opportunities, positioning the country as a key player in secure, green energy supply chains.
State, territory, and federal governments have collaborated with industry leaders to finalise the strategy, which identifies four objectives supported by 34 actions and enablers.
These efforts aim to establish Australia’s hydrogen industry at scale and bolster the nation’s transition to renewable energy sources.
Key to this push is the Green Hydrogen Production Tax Incentive Program and the expanded Green Hydrogen Headstart Program, both of which have been funded through the Albanese Government’s $8 billion commitment in this year’s Federal Budget as part of the “Future Made in Australia” initiative.
With the potential to unlock $50 billion in private sector investment, the programs are expected to boost Australia’s annual domestic green hydrogen production capacity to over 1 million tonnes by 2030.
The strategy also looks ahead to possible production targets of 15 million tonnes by 2050, supported by five-yearly milestones.
The International Energy Agency (IEA) estimates that more than 20 per cent of announced global hydrogen projects are based in Australia, with the pipeline valued at over $200 billion.
Minister for Climate Change and Energy Chris Bowen commented on the potential impact of the strategy: “This Strategy sets a vision for Australia as a global leader with its clean, innovative, safe, and competitive hydrogen industry.”
“As our industry scales, it will provide further and greater benefit for communities, support broader economic growth, and provide a key lever for Australia to reach net zero,” Bowen added.
The strategy also plays a key role in guiding future infrastructure investments and is expected to shape the course of Australia’s transition to renewable energy.
Bowen noted, “It sends a clear signal to trading partners about the future marketplace in Australia for hydrogen and hydrogen-based fuels.”
The National Hydrogen Strategy is available for public access on the website of the Department of Climate Change, Energy, the Environment and Water (DCCEEW).
