NSW Hydrogen Strategy worth $3 billion in incentives to drive regional jobs
Premier Perrottet claims New South Wales will lead the country with this hydrogen strategy
NSW is set to attract more than $80 billion of investment, drive deep decarbonisation and establish itself as an energy and economic superpower with today’s launch of the NSW Hydrogen Strategy.
Premier Dominic Perrottet said as NSW worked through post-lockdown recovery, hydrogen was an opportunity to drive new investment and help secure jobs right across the State.
Deputy Premier and Minister for Regional NSW Paul Toole said hydrogen was a huge opportunity for regional NSW.
“Places like Parkes, the Illawarra, and the Upper Hunter are uniquely placed to take advantage of these opportunities, with existing supply lines, access to transport links and a skilled workforce ready to make regional NSW a leader in hydrogen technology," Mr Toole said.
Treasurer and Energy Minister Matt Kean said the strategy, which will provide up to $3 billion in incentives, will set the State up as a global hydrogen leader and is forecast to increase the size of the NSW economy by more than $600 million by 2030.
“Hydrogen will not only help the State halve our emissions by 2030 and get to net zero by 2050, it will create new opportunities for our heavy industry, and an economic bonanza of investment and jobs,” Mr Kean said.
In addition to delivering an already committed $70 million to develop the State’s hydrogen hubs in the Illawarra and the Hunter, the strategy includes:
- Exemptions for green hydrogen production from government charges;
- A 90% exemption from electricity network charges for green hydrogen producers who connect to parts of the network with spare capacity;
- Incentives for green hydrogen production;
- A hydrogen refuelling station network to be rolled out across the State.
Business can submit an expression of interest to participate in the hydrogen hubs program by the end of October.