In Australia, the government released its A$22.7 billion Future Made in Australia budget package aimed at making the country a renewable energy superpower and an indispensable part of the global economy.
Included in that budget is:
· A$5.1 billion boost to the Australian Renewable Energy Agency:
o A$1.7 billion for the Future Made in Australia Innovation Fund to unlock private capital across new industries like green metals and low carbon liquid fuels.
o A$1.5 billion to build capability in solar and battery manufacturing that strengthens supply chain resilience
o A$1.9 billion to recharge ARENA’s core mission developing, commercializing, manufacturing and deploying new renewable energy technologies
· Supercharging Australian renewable hydrogen with:
o A$6.7 billion over the decade for a new production tax incentive of A$2 per kilogram starting from 2027-28; and
o A$2 billion for a new round of the successful Hydrogen Headstart program to give long-term certainty for the large-scale renewable hydrogen industry, critical for future green iron and steel opportunities.
Tags: ARENA, Australia, renewable hydrogen
Category: Fuels
