[Impact Webinar]: Tackling New Challenges Facing Australia's Growing Hydrogen Industry
1. Breaking down the Hydrogen Headstart Program - $2 Billion for green hydrogen to counter US’s IRA:
Targets to bridge the gap between the market price of hydrogen and the production cost of green hydrogen
Likely production credits
Jointly run by the Department of Climate Change Energy, Environment, and Water (DCEEW) and the Australian Renewable Energy Agency
2 to 3 green hydrogen production projects that will be supported by the program
Estimated to be around 1GW of hydrogen electrolyser capacity
2. The U.S inflation reduction act presents an opportunity for Australia to consolidate its position as a front runner in green hydrogen production and export.
By taking a comprehensive approach to developing the industry, focusing on cost reduction, and partnering with international players, Australia can remain competitive and play a significant role in the global transition to renewable energy. Changes were "an opportunity as well as a challenge", Australia could stand to be a key supplier to the US under the Act, unlike many other countries including America's allies in Europe.
3. With a potential 22.2 billion dollars of renewable projects pipeline, the Territory hydrogen future is looking promising, making strong headway towards its 50 % target by 2030.
Since 2017, the Northern Territory has delivered a number of initiatives to increase renewable energy demand. In July 2020, the Territory released its renewable hydrogen streategy which was followed in October 2021 by the Northern Territory Master Plan focusing on the foundations to enable renewable hydrogen industry through fir for purpose regulation renewable energy resource assessments. The recent Northern Territory Budget allocated AU$ 1.7 million to collect and publish investment grade with resource data.
4. Queensland’s renewable hydrogen industry is estimated to be a $33 billion industry by 2040, with over 50 hydrogen and ammonia projects already taking shape across Queensland.
the State is well on its way to becoming a hydrogen superpower. Consistent with the expectations of the government, partners, and proponents, many of Queensland’s ports examined can be expanded or adapted to accommodate hydrogen export.
5. The DCCEEW is funding the CSIRO led Hydrogen RD&D International Collaboration Program.
The centrepiece of the initiative involves undertaking international research delegations and establish a 2-way fellowship program between countries looking to collectively share resources and research talent. An expression of interest (EOI) is now open to the Australian research community where up to 40 Australian researchers will receive funding to visit selected research institutions and labs identified by the delegations to undertake between 3 to 12-month overseas placement activities, and overseas researchers are invited to come back to research in Australia.
Insights Brought to You by:
Hon Selena Uibo
Minister for Renewables and Energy
Northern Territory Government
Executive Director - Hydrogen
Department of Energy and Public Works (QLD)
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