Australia has one of the largest pipelines of hydrogen projects of any country in the world. The International Energy Agency (IEA) reports that 20% of all announced projects globally are in Australia.
The 2024 National Hydrogen Strategy represents a comprehensive formal review and update of the 2019 National Hydrogen Strategy. It takes into account developments in technologies, markets and the international policy landscape over the last 5 years.
It focusses on industry growth through supporting development at scale. The National Hydrogen Strategy’s new vision is: a clean, innovative, safe and competitive hydrogen industry that benefits Australia’s communities and economy, enables our net zero transition, and positions us as a major global player.
The strategy has identified four objectives, supported by 34 actions, that will help achieve this vision:
- supply: the hydrogen industry supplies hydrogen that is globally cost competitive
- demand and decarbonisation: activating the most prospective domestic demand sectors for hydrogen-based decarbonisation
- community benefit: communities are aware of and can realise the benefits of hydrogen
- trade, investment and partnerships: establish trade at scale and leverage purposeful partnerships.
Central to the updated strategy are the production incentives announced as part of the Australian Government’s $22.7 billion (USD 15.2 billion) Future Made in Australia plan.
These were announced through the 2024-25 Federal Budget. The Hydrogen Production Tax Incentive (HPTI) and the expanded Hydrogen Headstart Program will drive economies of scale, accelerate investment and reduce the cost gap for renewable hydrogen.
The new strategy was developed in close consultation with stakeholders from:
- state and territory governments
- industry stakeholders, including:
- face to face meetings with more than 65 stakeholders
- the receipt of 115 submissions to a consultation paper
- a multidisciplinary advisory group
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