The Tasmanian majority Liberal Government is taking action to ensure our state makes the most of its unique position as the renewable energy powerhouse of Australia.
Today I addressed the Global Hydrogen Energy Summit in Victoria to outline Tasmania’s natural advantages and existing renewable resources that strongly position us to benefit from the emerging global hydrogen industry.
Australia’s hydrogen export market is estimated to rise to between $2.6 billion and $13.4 billion by 2040 and our recently released draft Tasmanian Renewable Hydrogen Action Plan, clearly outlines our vision to become a world leader in large-scale renewable hydrogen production by 2030.
Recognising global energy supply and use is dramatically shifting as countries seek cleaner, renewable forms of energy. Tasmania’s future wind farm and pumped-hydro developments, alongside our Battery of the Nation and Marinus second interconnector projects, mean we are well placed to be a major producer of renewable hydrogen long-term.
Reports show a 1,000 megawatt facility – equivalent to supplying around 1 million homes - could be feasible by 2030, creating an estimated 1,200 regional jobs, and supporting a further 2,000 megawatts of renewable energy investment in our State.
Analysis indicates Tasmania could produce renewable hydrogen 10 to 15 per cent cheaper than other Australian power grids, and 20 to 30 per cent cheaper than from dedicated off-grid variable renewables.
Tasmania also has high quality industrial precincts, including the Bell Bay Advanced Manufacturing Zone, with access to deep-water ports, strong transmission infrastructure, significant water availability, road and rail infrastructure, a highly skilled and innovative workforce, and world-class educational and research institutions including the Blue Economy Cooperative Research Centre.
The Tasmanian majority Liberal Government is getting on with the task of driving investment and creating local jobs by realising our renewable hydrogen energy potential.