Solar PV and wind power are the cornerstones of Australia’s revised National Hydrogen Strategy

The strategy outlines plans for a Hydrogen Production Tax Incentive and an expanded Hydrogen Headstart programme. Image: Fortescue.

Today (13 September), the Australian government released an updated 2024 version of its National Hydrogen Strategy, focusing on accelerating clean hydrogen industry growth, with solar PV and wind generation set to provide the foundation for a booming industry.

Australia’s new strategy aims to position the country as a global hydrogen leader. It will harness Australia’s abundance in renewable energy generation to capitalise on a growing and potentially lucrative export market for the clean energy carrier. Indeed, the strategy states that the global hydrogen market is forecast to reach US$1.4 trillion in 2050 and that Australia is well-placed for export and manufacturing opportunities.