Australian hydrogen in the spotlight at Asia Pacific Hydrogen Summit 2024

Australia was the centre of attention at the 2024 Asia Pacific Hydrogen Summit on 12–13 September. Held in Brisbane, Queensland, the event was the perfect opportunity to showcase Australia’s hydrogen potential to industry, government and researchers from around the world.

A number of significant announcements were made at the summit. Australia and Germany signed a deal which will see A$660 million in funding to guarantee German buyers for Australian renewable hydrogen. The deal will also see increased collaboration across the 2 nations in green metals under the expanded Hydrogen Accord and the new Green Metals for Sustainable Steel initiative. 

Australia also released its National Hydrogen Strategy 2024. The strategy sets 4 objectives to accelerate the growth of Australia’s clean hydrogen industry. It details production and export targets, including a new renewable hydrogen production target of 15 million tonnes per annum by 2050. The strategy also details programs and incentives to establish trade at scale, support investment and leverage international partnerships.

Government support for visiting investors

Austrade supported delegations from Japan, Taiwan, Germany, Lithuania, Austria, the Netherlands and South Asia. In addition to the summit, the delegations visited hydrogen project sites around Australia, and attended industry briefings and networking events.

The Team Australia stand at the summit included 6 government organisations with touchpoints with the hydrogen industry: 

• Australian Renewable Energy Agency (ARENA)
• Clean Energy Finance Corporation (CEFC) 
• Clean Energy Regulator (CER)
• Commonwealth Scientific and Industrial Research Organisation (CSIRO)
• Department of Climate Change, Energy, the Environment and Water (DCCEEW)
• Geoscience Australia.

Austrade worked with these organisations to deliver meetings and briefings for international visitors. This included a joint briefing by Austrade, DCCEEW and CEFC discussing the Australian Government’s strategic direction on the development of renewable hydrogen. The briefing included an overview of government funding mechanisms, and new measures available under the Future Made in Australia plan. 

Austrade also chaired a panel on the production of renewable hydrogen, and discussed its work promoting Australia’s hydrogen opportunity to the world on a panel focused on hydrogen trade.

Australia’s hydrogen opportunities

Australia has a globally significant project pipeline of more than 100 hydrogen projects announced since 2019. The IEA reports that 20% of all announced projects globally are in Australia. This pipeline is larger than for any other single country. The pipeline – currently valued at A$225 billion – is focused on renewable hydrogen production. Australia’s extensive wind and solar resources provide the foundation for producing low-cost renewable hydrogen.

There are major incentives and grants available to support investment in Australia’s green hydrogen industry, including the Hydrogen Headstart program, the Advancing Hydrogen Fund, and a new Hydrogen Production Tax Incentive. 

Australia has also introduced the Guarantee of Origin scheme into parliament. The scheme will track and verify the emissions of low-emissions products, including hydrogen.