A Shorten Labor Government will deliver a $1 billion National Hydrogen Plan to create new blue-collar jobs, support new businesses and supercharge Australia’s renewable energy industry.
Hydrogen is an emerging industry that has huge potential to deliver significant economic, employment, energy and environmental benefits for Australia.
Hydrogen gas is an energy source that can be produced through the process of electrolysis using renewable energy, meaning it can leverage Australia’s world-class renewable energy to make much cleaner hydrogen competitively.
Developing a hydrogen industry will deliver new opportunities for manufacturing, transport and electricity generation.
As the global demand for hydrogen surges to an expected $215 billion market by 2022, Australia is uniquely placed to benefit from the development of this new, job-generating industry.
Analysis by ACIL Allen projects that hydrogen exports alone could be worth $10 billion in 20 years, and create 16,000 new blue-collar jobs – mainly in regional areas.
Most of the benefits of hydrogen development will be in regional Australia. For example, the deep sea water ports of Gladstone and Newcastle are well placed to support a hydrogen export industry.
While benefiting the nation as a whole, regional Queensland will be the big winner from Labor’s plan.
Labor is taking a hands-on approach to supporting the new jobs and industries Queensland needs for the future.
We want regional Queenslanders to have good, secure blue-collar jobs for the future in existing and new industries.
Hydrogen can be the next great energy industry for Australia – and Labor has a plan to make it happen.
Labor’s six-point plan for hydrogen will:
1. Allocate $1 billion of funding from the Clean Energy Finance Corporation to support clean hydrogen development, from Labor’s commitment to double CEFC’s capital by $10 billion.
2. Invest up to $90 million of unallocated funding from the Australian Renewable Energy Agency to support research, demonstration and pre-commercial deployment of hydrogen technologies.
3. Establish a $10 million ARENA funding round for hydrogen refuelling infrastructure around the nation, from within ARENA’s unallocated funding.
4. Invest $40 million of unallocated funding from the CEFC Clean Energy Innovation Fund to target hydrogen technologies and businesses that have passed the research and development stage.
5. Implement regulatory reforms that will help the industry develop and prosper, including reforms to support the use of existing gas pipelines for hydrogen, reforms to support the shipping of hydrogen, reforms to better support the storage of CO2 from blue and brown hydrogen production, as well as other reforms to support hydrogen use and production.
6. Establish the National Hydrogen Innovation Hub in Gladstone with an initial investment of $3 million. This will kick-start early commercialisation of hydrogen technologies, provide a hub for investment and research agencies, and provide opportunities to leverage LNG infrastructure to support hydrogen exports.
A Shorten Labor Government will make Gladstone the hydrogen capital of Australia.
Hydrogen means more investment in Australia, more exports from Australia, and more blue-collar jobs for Australia.
Australia has everything to gain from the global transition to more renewable energy. But to secure the new industries and jobs it will deliver, we need a government that has a plan to foster and grow the industries of the future.
That is exactly what Labor’s National Hydrogen Plan will deliver.
Further information on Labor’s National Hydrogen Plan can be found here.
TUESDAY, 22 JANUARY 2019