The Australian government has made the largest ever investment in renewable hydrogen! Support large-scale production of renewable hydrogen, build industrial capacity, and provide new economic opportunities for manufacturing and export industries.
On October 10, the Australian Renewable Energy Agency (ARENA) announced the launch of a 2 billion application for the "Hydrogen Headstart" program to support large-scale renewable hydrogen and hydrogen-based products projects, which can apply for production credit in the next 10 years. To bridge the gap between the cost of hydrogen production from renewable energy and the market price.
This is the Australian government's largest investment in renewable hydrogen to date, aiming to promote its market deployment and become a global leader in the renewable hydrogen industry. The objectives of the program are
(1) to produce renewable hydrogen on a large scale to facilitate the technical and commercial viability of accelerating the production and use of renewable hydrogen;
(2) to support domestic decarbonization, build industry capacity, and provide new economic opportunities for manufacturing and export industries;
③ provide relevant price guidance for the current economics and future projections of renewable hydrogen and its derivative technologies;
④ reduce barriers to future deployment by developing expertise, skilled labor, intellectual property, and attracting key equipment manufacturers and private sector capital (debt, equity, and off-take);
⑤ Promote the knowledge sharing of the whole industry and help Australia's renewable hydrogen industry to mature.
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