The Federal Government will invest more than half a billion dollars on clean energy projects to support Australian industry, create jobs, help cut emissions and drive investment.
Prime Minister Scott Morrison announced that the 2021-22 Budget will invest a further $539.2 million in new clean hydrogen, carbon capture, use and storage (CCS/CCUS) projects, creating around 2,500 jobs in the process.
The package includes $275.5 million to accelerate the development of four additional clean hydrogen hubs in regional Australia and implement a clean hydrogen certification scheme, as well as $263.7 million to support the development of CCS/CCUS projects and hubs.
“It is essential we position Australia to succeed by investing now in the technologies that will support our industries into the future, with lower emissions energy that can support Australian jobs,” the Prime Minister said.
“There is a strong appetite from business for the new emissions reduction technologies that they know will be needed to run their operations and keep employing Australians and grow jobs for the future.
Minister for Energy and Emissions Reduction Angus Taylor said the Government was backing practical, technological solutions to meet Australia’s 2030 target and get to net zero.
“The Government’s investment will reduce technical and commercial barriers to deploying these technologies, the Minister said.
“It will encourage new large-scale investment from the private sector, creating jobs and supporting Australia’s economic recovery, particularly in regional areas.
“It’s a tangible example of our commitment to being a low emissions technology leader and reducing emissions through technology not taxes, or imposing costs on households, businesses or the economy.
“Australia’s potential to supply our trading partners with low cost, clean energy and permanently and safely store emissions underground has our trading partners, including Japan, South Korea and Singapore excited.”