A Shorten Labor Government will invest $250,000 towards the potential development of a major new job creating export industry for Northern Tasmania – Hydrogen.
Creating new clean energy and advanced manufacturing jobs in places like Northern Tasmania is a key priority for Federal Labor.
Hydrogen gas is an energy source that can be produced through the process of electrolysis using renewable energy, meaning it can leverage Tasmania’s abundant supply of clean, green renewable energy to make much cleaner hydrogen competitively.
The potential for hydrogen production in Northern Tasmania represents a huge export opportunity, with the global market for hydrogen expected to be worth $215 billion by 2022 according to the International Energy Agency.The establishment of a hydrogen export industry in Northern Tasmania has the potential to generate significant annual export revenue for Tasmania, with some estimates calculating the potential annual revenue at $150 million – which would make it Tasmania’s sixth largest export revenue earner.
Studies have predicted the Hydrogen export industry could employ 16,000 Australians. Put simply this announcement means the potential for hundreds, if not thousands, of new well-paid blue-collar jobs in Northern Tasmania, reimagining Tasmania’s proud industrial heritage.
The potential for a Tasmanian hydrogen industry is massive and goes well beyond export; from transforming transport, to providing secure, affordable and clean energy for industry.
The proposal has the widespread backing of the local business community and Local Government, including the Northern Tasmania Development Corporation, the Tasmanian Minerals and Energy Council, the Launceston Chamber of Commerce and the Business Sustainability Round Table.
Federal Labor’s $250,000 commitment will go towards important scoping work for the development of the industry, including determining the quantum of renewable energy Tasmania could dedicate to hydrogen production and the identification of a suitable site for a production factory within the Bell Bay heavy industrial zone – all to be completed in 2019.
Work on this project will be undertaken between all three levels of Government, using the successful framework of the Launceston City Deal.
Labor has already committed $1.14 billion towards a National Hydrogen Plan to make Australia a world leader in the burgeoning hydrogen industry.
This announcement forms part of Labor’s significant package of commitments toward creating new blue collar jobs in clean energy and advanced manufacturing, particularly in regional areas like Northern Tasmania.