In collaboration with states and territories, the Australian Government is launching a consultation to revamp the National Hydrogen Strategy to assist the domestic hydrogen sector.
The Federal Government emphasised the need to develop a National Hydrogen Strategy that will assist Australia in adapting to the increasingly competitive investment environment for hydrogen.
The revised Strategy will help map the route for Australia to capitalise on hydrogen’s immense economic potential while also providing jobs and energy in the ongoing transition.
The review will examine measures taken in the original Strategy and new prospects not previously pursued.
Minister for Climate Change and Energy Chris Bowen said the review was critical to ensuring a fit-for-purpose strategy in a dynamic sector.
“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 stated.
“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,” Minister Bowen added.
According to the Minister, the Federal Government is dedicated to collaborating with industry, communities, states, and territories to update the National Hydrogen Strategy and capitalise on this potential.
The Commonwealth Government is investing in Australia’s hydrogen industry, including the $2 billion Hydrogen Headstart Program, over $500 million in regional hydrogen hubs, and $38.2 million for the development of a Guarantee of Origin Scheme, demonstrating that Australia is ready to compete on a global scale.
The revised Strategy will assist Australia in determining where to focus its efforts and ensuring that the Commonwealth, States, and industry all work together to capitalise on the opportunity.
