Today’s hydrogen industry “announcement” from the Morrison Government shows once again how out of touch and divided the Liberals are when it comes to Australia’s energy future.
This chaotic Government has been in power for five years and they are only now getting around to “public consultation” on a hydrogen plan.
Unlike Labor, the Liberals have no real policy to make Australia a hydrogen superpower.
In fact, when Labor announced our $1.14 billion hydrogen plan, the Morrison Government called the jobs potential of a hydrogen industry “snake oil”, yet today we’re meant to believe the government has had a sudden conversion and now believes in this exciting new industry.
It is as credible as their new found commitment to tackling climate change, with their only policy solution is to double down on Tony Abbott’s failed climate change policies and spend billions of taxpayer dollars building new coal plants.
Labor sees the huge potential hydrogen will play in our energy future, creating thousands of jobs across the country and turning Australia’s hydrogen industry into a competitive international export.
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.
The reality is this is a government who will never get action on climate change or our energy future right, because they are too divided.
Only Labor has a commitment to the industries and jobs of the future, including our $1.14 billion National Hydrogen Plan, and our commitment to 50 per cent renewables by 2030.
The Liberals have an empty marketing strategy.