Tasmanian hydrogen draws the renewable energy spotlightSeptember 7, 2020
The Australian state is thrilled with the interest developers are expressing in its clean energy industry.
Tasmanian hydrogen is drawing the eye of developers seeking to take part in Australia’s promising and rapidly growing clean energy industry. The country is seeking to position itself as a leader in the world as trends send the globe away from fossil fuels and toward options that allow vehicles to operate carbon emission-free.
At the moment, the Tasmanian Hydrogen Renewable Funding Program has 23 applications.
The Tasmanian Liberal Government has expressed nothing less than delight with this trend. The Tasmanian hydrogen support package leading the country is for $50 million. Of that, $20 million will be directed toward projects within the Tasmanian Renewable Hydrogen Fund. Another $20 million will be provided in concessional loans. As much as $10 million will be provided in support services in order to provide this renewable energy sector with stimulus required to establish a foundation over the long-term.
Through this program, several feasibility study and infrastructure project proposals have been received. Moreover, financial assistance with electricity costs and concessional loan proposals have also been submitted. The high interest underscores how well the state is doing in drawing the types of investment in the H2 sector that it has been seeking. This is meant to create hundreds of local jobs and pour millions into the state’s economy, especially in regional areas.
The Tasmanian hydrogen funding applications cover all components of the renewable fuel’s journey.
The applications cover everything from H2 fuel’s production, as well as its distribution and its use. These applications represent a wide spectrum of potential end-uses, which include transportation but are not limited to that sector.
The applications are now under the consideration of an independent assessment panel. That panel will examine each application’s individual merit in addition to their alignment with the Renewable Hydrogen Action Plan, which seeks to position Tasmania as a global H2 producer and exporter within the next ten years.
Recommendations for the Tasmanian hydrogen project funding will be provided to the state’s government for further consideration over coming months. The government is focused on using this strategy to build the state’s future, starting fresh with the rebuilding of its economy.