The Tasmanian Renewable Hydrogen Action Plan
Hydrogen is emerging as a fuel of choice for countries seeking to decarbonise their economies.
This presents an opportunity for Tasmania to leverage its renewable energy resources to produce renewable or ‘green’ hydrogen for domestic use in Tasmania and for export to countries around the world.
Tasmania is well placed to capitalise on the emerging economic opportunity, with analysis by Hydro Tasmania indicating that Tasmanian renewable hydrogen production could be up to 15 per cent cheaper than on mainland Australia (from the power grid), and up to 30 per cent lower than from dedicated off-grid variable renewables.
The Tasmanian Renewable Hydrogen Action Plan sets out a vision for Tasmanian to capitalise on its existing and expandable renewable energy resources to become in world-leader in large-scale renewable hydrogen production for domestic use and export.
The Tasmanian Government has developed a $50 million package of support measures over 10 years. This includes a $20 million Tasmanian Renewable Hydrogen Fund, $20 million in concessional loans, and $10 million in support services including competitive electricity supply arrangements and payroll tax relief.
These will be made available through a competitive Expression of Interest (EOI) process which is expected to commence in the second quarter of 2020.