With the intent of being regarded as an industry leader, Australia has gone ahead and released its National Hydrogen Strategy, which happens to lay out its framework when it comes to production, usage, and exports concerning hydrogen.
As per the department of Climate Change, Energy, the Environment, and Water, the 2024 National Hydrogen Strategy happens to be a comprehensive update of the already placed 2019 strategy, thereby reflecting the advancements within technology, markets, along with international policy.
The data floated by the International Energy Agency – IEA went on to note that Australia happens to have a very prominent hydrogen project pipeline, which, by the way, represents 20% of the global announcements.
As per the new strategy, Australia looks to have a clean, safe, innovative, and also a competitive hydrogen industry that goes on to benefit its communities and of course the economy, helps with the net zero shift thereby positioning itself as a major global player.
One of the major aspects of the updated strategy happens to be the production incentives that have been put in place by the $22.7 billion Future Made in Australia plan by the Australian Government, which was announced during the 2024-25 Federal Budget. It is well to be noted that the Hydrogen Production Tax Incentive, as well as the expanded Hydrogen Headstart Program, look out to attain economies of scale, attract funding, and also bridge the cost gap when it comes to renewable hydrogen.