The Albanese Government, in partnership with states and territories, is today announcing the opening of consultation to revamp the ³Ô¹ÏÍøÕ¾ Hydrogen Strategy to support the domestic hydrogen industry.
We need a fit-for-purpose Strategy that helps Australia adapt to the increasingly competitive investment environment for hydrogen.
The updated Strategy will help chart the course to ensure Australia can leverage hydrogen’s immense economic potential, and deliver jobs and energy in the transformation underway.
The review will examine actions implemented in the original Strategy, as well as new opportunities not previously adopted.
Minister for Climate Change and Energy Chris Bowen said the review was vital to support a fit-for-purpose strategy in an evolving industry.
“Australia is well on track to build an innovative hydrogen industry that will bring immense economic opportunities across the country, especially in the regions that have always powered Australia,” Minister Bowen said.
“We have up to $300 billion of potential renewable hydrogen investments in the pipeline, the largest in the world – but we face huge competition from other countries to create the environment to get these announcements to final investment decisions.
“Our government is committed to working with industry, communities, states and territories to bring our Strategy up to date and capitalise on this opportunity.”
Our Government is strongly investing in Australia’s hydrogen industry, including the $2 billion Hydrogen Headstart Program, over a half a billion dollars in regional hydrogen hubs and $38.2 million for the creation of a Guarantee of Origin Scheme – proving Australia is ready to be a serious international player.
This revamped Strategy will help us look at where we prioritise effort – and ensure the Commonwealth, States and industry are all working together to seize this immense opportunity.
Information on the review and submissions to the consultation can be made here: from now until 18 August 2023.
