Green Hydrogen NewsGreen Hydrogen News
    LinkedIn X (Twitter) YouTube Facebook
    Trending
    • UAE and Netherlands Join Forces for a Sustainable Tomorrow
    • Russian Scientists Pioneer Resilient Fuel Cell Material
    • Europe’s Path to Energy Independence with Hydrogen
    • Brazil’s Petrobras and Vale Forge Historic Alliance for Clean Energy
    • Taiwan to Use Seawater to Make Hydrogen
    • NENS Power and e-power launch hydrogen dual fuel generator using CMB.TECH’s tech
    • Spain’s Energy Giant Cepsa Unveils Massive Green Hydrogen Project
    • Financial Solutions Propel Green Hydrogen Projects in South Africa and Namibia
    LinkedIn X (Twitter) YouTube Facebook
    Green Hydrogen NewsGreen Hydrogen News
    • NEWS
      • Authorities
      • Blitz
      • Breaking News
      • Finance
      • Jobs
      • H2 Plant
      • Politics
      • Press Release
      • Sponsored
      • Stock
      • Tenders
      • Video
    • HYDROGEN
      • Aviation
      • Electrolyzers
      • Fuel Cells
      • Green Hydrogen
      • Hydrail
      • Innovation
      • Pipelines
      • Projects
      • Stations
      • Storage
      • Technology
      • Vehicles
    • SPOTLIGHT
      • Analysis
      • Interviews
      • Podcast
      • Research
      • Reviews
      • Specials
      • Webinars
    • REGIONAL
      • Africa
      • Americas
      • Asia
      • Europe
      • Middle east
      • Pacific
    • CONTACT
    • ADVERTIZE
    • SUBSCRIBE
    Green Hydrogen NewsGreen Hydrogen News
    Home Home - Finance
    green hydrogen

    Revamped Hydrogen Strategy Sees Bowen Setting 1,000MW Electrolyser Goal

    Arnes BiogradlijaBy Arnes Biogradlija07/07/20232 Mins Read
    Share
    LinkedIn Twitter Facebook Email WhatsApp Telegram

    Under the newly proposed Hydrogen Production Credit (HPC) scheme, Australia is setting a precedent by allowing green hydrogen producers to name their government subsidy’s value.

    The intent behind this unconventional approach is to secure Australia’s stake in the emerging hydrogen technology market that is currently attracting significant global capital.

    The HPC scheme, forming part of the $2 billion Hydrogen Headstart program flagged in the federal budget, intends to support projects with a capacity of 50 megawatts (MW) or more for a decade. The government’s ambitious goal is to achieve a 1000 MW electrolyzer capacity by 2030, backed by at least two large-scale projects. The program is slated to commence in the 2027 fiscal year.

    Unlike international schemes that typically offer a $3 to $4 top-up per kilogram of hydrogen produced, the Australian variant aims to empower subsidy recipients to specify their own subsidy rates.

    Federal Energy Minister Chris Bowen unveiled the proposal, stating, “As part of the application process, applicants will nominate an HPC value (per kilogram or equivalent metric) that should represent the difference between the expected sales price to each off-taker and the applicant’s cost of production (inclusive of a justifiable return on capital).”

    As part of the terms, applicants are required to specify a maximum production cap for the 10-year period, but interestingly, no minimum production level is mandated.

    This innovative approach to subsidizing green hydrogen production could significantly boost Australia’s competitive edge in the global green hydrogen market. Allowing producers to dictate their subsidy rates fosters a greater incentive for innovation and investment in the sector.

    However, it is essential to ensure that the system is meticulously monitored and regulated to prevent potential misuse or overvaluation of subsidies, which could detrimentally impact the economics of the burgeoning industry.

    With the world increasingly recognizing the role of hydrogen as a key component in the energy transition, Australia’s move may set a precedent for other countries to consider more flexible subsidy programs to stimulate their green hydrogen sectors.

    green hydrogen hydrogen
    Share. LinkedIn Twitter Facebook Email

    Related Posts

    green hydrogen

    UAE and Netherlands Join Forces for a Sustainable Tomorrow

    29/09/2023
    green hydrogen

    Russian Scientists Pioneer Resilient Fuel Cell Material

    29/09/2023
    european hydrogen backbone

    Europe’s Path to Energy Independence with Hydrogen

    29/09/2023
    Brazil's Petrobras and Vale Forge Historic Alliance for Clean Energy

    Brazil’s Petrobras and Vale Forge Historic Alliance for Clean Energy

    29/09/2023
    Taiwan to Use Seawater to Make Hydrogen

    Taiwan to Use Seawater to Make Hydrogen

    29/09/2023
    NENS Power and e-power launch hydrogen dual fuel generator using CMB.TECH's tech

    NENS Power and e-power launch hydrogen dual fuel generator using CMB.TECH’s tech

    29/09/2023
    green hydrogen

    UAE and Netherlands Join Forces for a Sustainable Tomorrow

    29/09/2023
    green hydrogen

    Russian Scientists Pioneer Resilient Fuel Cell Material

    29/09/2023
    european hydrogen backbone

    Europe’s Path to Energy Independence with Hydrogen

    29/09/2023
    Brazil's Petrobras and Vale Forge Historic Alliance for Clean Energy

    Brazil’s Petrobras and Vale Forge Historic Alliance for Clean Energy

    29/09/2023

    Subscribe to Updates

    Get the latest news from the hydrogen market subscribe to our newsletter.

    Final Transparent Green Logo (horizontal)-desktop version (RGB)
    LinkedIn X (Twitter) Facebook YouTube

    News

    • Inteviews
    • Webinars
    • Hydrogen
    • Spotlight
    • Regional

    Company

    • Information
    • Advertising
    • Media Kits
    • Contact Info
    • GDPR Policy

    Subscriptions

    • Subscribe
    • Newsletters
    • Sponsored News

    Subscribe to Updates

    Get the latest news from EnergyNewsBiz about hydrogen.

    © 2023 EnergyNews.biz
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version