Hydrogen has the potential to make a substantial contribution to our clean energy transition, reducing emissions across the economy while driving the development of an important new industry.
During the year we convened a National Hydrogen Roundtable to enable industry leaders and policy makers to consider development opportunities and potential financing options.
The Technology Investment Roadmap has set a specific goal to produce hydrogen at below $2 per kilogram, the point at which hydrogen will be competitive with alternative energy sources.
Through the Advancing Hydrogen Fund, we expect to provide finance to large scale projects with the potential to deliver on this objective, with an early focus on large scale electrolysis projects included in the ARENA Renewable Hydrogen Deployment Funding Round.
Drive large scale deployment of electrolyser technologies:
Leading to technology cost reductions, improved supply chain expertise, increased industry expertise and offtake opportunities
Catalyse the hydrogen industry:
Accelerating the deployment of large scale renewable energy hydrogen technologies, including demand side projects to achieve price discovery; increase transparency of current and projected economies of scale; increase skills and market knowledge
Access to tailored finance:
Providing investing support to project proponents as they seek to accelerate hydrogen developments, paving the way for private sector finance to follow
Support the implementation of the National Hydrogen Strategy:
Including its aims to create jobs, especially in regional areas, contribute to a cleaner environment, increase prosperity and enhance Australia’s fuel security