The Australian Government will introduce tax credits for green hydrogen and critical minerals to Parliament as part of its Future Made in Australia (FMIA) plans.
The legislation offers a hydrogen production credit of AUD $2/kg ($1.30/kg) for green hydrogen produced between 2027/28 and 2039/40 for up to ten years per project, as well as a critical mineral incentive worth 10% of processing and refining costs.
Minister for Climate Change and Energy, Chris Bowen, said FMIA would allow the nation to grab the “vast economic and industrial opportunities” from the Net Zero transition.
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