The Australian Government has released its 2024 National Hydrogen Strategy. The strategy provides the framework to guide Australia's production, use and export of hydrogen. This will position Australia to become a global hydrogen leader.
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.
Central to the updated strategy are the production incentives announced as part of the Australian Government's $22.7 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.
