Australia budgets A$2bn for hydrogen incentives
The government will provide revenue support for renewable hydrogen production
Australia has allocated A$2bn ($1.35bn) for its ‘Hydrogen Headstart’ programme of renewable hydrogen incentives in its federal budget. The Australian Renewable Energy Agency (Arena) will be responsible for the programme, which will “provide revenue support for investment in renewable hydrogen production through competitive production contracts”, according to budget documents. While the country was an early mover in hydrogen, publishing a national hydrogen strategy geared towards exports, it has lagged behind other nations when it comes to FID on projects above 10MW in size. The US and the EU in particular are considered high priority for investment and development, owing to generous subsidy
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