[co-authors: Lilly May, Michael Kralic]
There have been a number of policy and funding developments applicable to the hydrogen energy industry in Australia since the release of K&L Gates
The H
2 Handbook in October last year. These developments have come at both commonwealth and state level and highlight the current governmental appetite to foster the emerging Australian hydrogen industry and to position Australia as a global hydrogen leader.
This article reflects on the state of play across Australia, providing a high level consolidated overview of these updates and supplementing the Australian chapter of
The H
Australian Policy Updates
New South Wales
NSW) Government published the NSW Net Zero Industry and Innovation Program (
Program) as part of the NSW Net Zero Plan Stage 1: 2020-2030, which aims to achieve a 35% reduction in emissions compared to 2005 levels. AU$750 million will be invested under the Program by 2030 to help realise that aim.
The Program has three areas of focus:
Clean Technology Innovation - supporting the development of emerging clean technologies, including hydrogen. AU$195 million has been earmarked for this area.
New Low Carbon Industry Foundations - creating the foundations for low emissions industries by building infrastructure and expanding the capability of supply chains. AU$175 million in funding has been allocated for this objective.
The state government released the Electricity Infrastructure Roadmap in late 2020, which outlines NSW’s renewable energy plan and renewable energy targets. Its enabling legislation is the Electricity Infrastructure Investment Act 2020 (NSW), and it also passed both houses of parliament in late 2020. So what do these mean for the state and the country?
More renewable energy investment from the private sector
The primary goal of this renewable energy plan is to put the groundwork, structures and framework in place to attract more private investment in renewable energy solutions.
It lays out a goal of achieving $32 billion in private investment for regional energy infrastructure by 2030, which will result in around 9000 jobs in regional NSW as well. This will be achieved through 12GW of renewable generation through new projects, and 3GW storage by 2030. The roadmap states that would achieve $130 annual savings on the average residential electricity bill and $430 off the average sma
NSW set to become a renewable energy superpower lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.
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