Australia: renewable hydrogen production tax incentives

On November 25, 2024, Australia introduced the Future Made in Australia legislation, which was passed by Parliament on November 28. The goal of this legislation is to foster the growth of clean energy industries by leveraging Australia’s abundant natural resources, critical minerals, and skilled workforce.

To support these industries, the government has introduced production tax incentives for renewable hydrogen and critical minerals as part of its efforts to drive the nation’s transition to net zero emissions.

Two key tax incentives have been established: