Simon Birmingham (SA, Liberal Party, Minister for Trade) Share this | Hansard source

I thank Senator McDonald for her question. I know that she prides Australia's reputation as a longstanding reliable supplier of energy, not just for our country but to the world and, like all on this side, is committed to ensuring that Australia continues to be that successful supplier of energy to the world. That's why the Morrison government is committed to delivering affordable and reliable electricity to the Australian people and, indeed, to the rest of the world. Hydrogen, we recognise, has the potential to be an important part of our future energy mix and a large new potential export industry for Australia. We have worked under the leadership of the Chief Scientist and in cooperation with all state and territories on the landmark National Hydrogen Strategy. The strategy will see governments and industries realise Australia's potential, building on our ability and our comparative advantage in the potential production of hydrogen.

Our government has backed hydrogen production to the tune of over half a billion dollars. This includes over $150 million committed to research, pilots, trials and demonstrations, $70 million in funding for electrolysis related projects and now adding some $300 million for the new Advancing Hydrogen Fund. This new fund will finance projects focused on growing a clean, innovative and competitive hydrogen industry in Australia. It is the government's first financing fund dedicated specifically to hydrogen projects. The fund will back projects that align with priorities under the National Hydrogen Strategy in areas such as advancing hydrogen production, developing export and domestic supply chains, establishing hydrogen hubs and backing projects that build domestic demand for hydrogen. The government has also set, critically, an economic goal for hydrogen to be produced at or less than $2 per kilogram. At this price, hydrogen starts to compete with alternatives in large-scale energy deployment across our energy system and becomes a commercial opportunity in its own right, which is absolutely— (Time expired)