Clean Fuel of the Future: Policy and Legislation Shaping Australia's Hydrogen Industry
In recent years, the Australian federal government has committed, at both the domestic and international levels, to ambitious renewable energy targets. Australia's hydrogen sector is positioning itself to play an increasingly key role in the global supply of hydrogen and in Australia's transition to a low-emissions economy. Clean hydrogen and hydrogen-based fuels are seen as credible alternatives that can facilitate decarbonisation, particularly in certain sectors including transport, shipping and manufacturing, such as the fertiliser sector.
Within the last 12 months, Australian governments at a federal, state and territory level have prioritised the implementation of regulatory initiatives and the funding of programs to accelerate hydrogen industry development across the country. The new regulatory initiatives have been announced in the context of a need to develop clean hydrogen production projects at large scale and to produce hydrogen at commercially suitable prices.
Industry participants will benefit from understanding the key aspects of the new regulatory reforms in the context of the Australian government's policy and funding initiatives, which are aimed at developing Australia's renewable hydrogen industry to be one of the largest in the world by 2030. These reforms provide developers, financiers and investors with opportunities to participate further in the growing Australian hydrogen industry.