Media Release: $50 million delivered for Green Hydrogen to deliver jobs and fight climate change
The Greens have delivered game changing investment in green hydrogen as part of the shift to renewable energy with the Electricity Infrastructure Investment Bill. These critical Greens amendments were achieved through good faith negotiations with the NSW Government to help kick start this critical 21st century energy industry.
The amendments provide a guaranteed $50 million in funding over the next ten years to develop the green hydrogen energy sector together with low cost renewable energy for the emerging industry. The amendments provide that the electricity used to make green hydrogen will be exempted from infrastructure charges making it cheaper to produce giving the industry an essential boost.
Greens MP and spokesperson for energy David Shoebridge said
“This was a rare moment where Parliament went beyond the usual tribal politics of climate and energy to deliver for the future.
“These critical amendments will see real investment in green hydrogen over the next decade and they come with the support of the Greens, the Coalition and Labor.
“The $50 million investment coupled with guaranteed supply of low cost renewable power will make green hydrogen projects economically viable from day one.
“Targeted early investment in green hydrogen is critical to rebuilding our local manufacturing base while addressing climate change.
“If we are to get serious about the fundamental economic changes needed to deal with climate change then green hydrogen needs to be in the mix.
“Together with pumped hydro and batteries, green hydrogen allows renewable energy to be stored and dispatched as needed.
“These changes are particularly exciting for the Illawarra where gas export facilities and the existing manufacturing base make it top of the list for investment in green hydrogen.
“Climate change is already impacting lives, livelihoods and communities, this investment in green hydrogen will supercharge the transition to renewables, and create local jobs in manufacturing.
““This is the start, not the end, of the transformation needed to address climate change and the Greens will continue to push for large scale investment in publicly owned renewables which is an essential part of driving this change,” Mr Shoebridge said.
Green hydrogen is made by using clean electricity from renewable energy technologies to electrolyse water (H2O), separating the hydrogen atom within it from its molecular twin oxygen. The production of green hydrogen produces no emissions. This is in contrast to hydrogen produced with fossil fuels including gas.