ABSI this week looks at the global regions offering generous subsidies and grants to attract green hydrogen production investment.
Good news for green hydrogen continues to flow through the newswire with the Canadian government announcing a 40 percent tax credit for the production of green hydrogen. Now, this was enacted as a result of avoiding being left behind by other jurisdictions that are offering very generous subsidies.
The U. S., for example. Offers a subsidy of up to 3 a kilo for green hydrogen production. The EU is launching a green hydrogen bank. So there are a lot of strategies out there by governments to attract the billions of investment needed in order to get this industry up off the ground. Now governments love green hydrogen because it enables them to export their renewable energy resources.
So it really can create an entirely new export industry for these countries. Now Australia is a country with great renewable energy resources. But the subsidies being offered to get green hydrogen off the ground really pale in comparison to some of their other counterparts. So Australia really is at risk of being left behind unless the government comes to the table and works on new ways in order to stimulate the investment necessary to get the industry off the ground.
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Barclay Pearce Capital acknowledges the Traditional Owners of the land where we work and live, the Gadigal of the Eora Nation and pays our respects to Elders past, present and to the children of today who are the Elders of the future. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land.
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© 2024 Barclay Pearce Capital - BPC | All Rights Reserved
Disclaimer:
Barclay Pearce Capital Management Pty Ltd is the holder of an Australian Financial Services Licence (Number: 503261). The information provided on this website is general in nature only and does not constitute personal advice. The information has been prepared without taking into account you or your company’s objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. You should seek independent financial advice and read the relevant disclosure statements or other offer documents prior to making an investment decision about a financial product. The material contained on the website is for information purposes only and should not be construed as an offer or solicitation or recommendation to buy or sell financial products.
Barclay Pearce Capital acknowledges the Traditional Owners of the land where we work and live, the Gadigal of the Eora Nation and pays our respects to Elders past, present and to the children of today who are the Elders of the future. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land.