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The Australian government on Monday will introduce legislation to implement production tax incentives for renewable hydrogen and critical minerals to help boost investment in the sector, which could play a major role in energy transition plans.
For renewable hydrogen, the planned legislation will establish a tax incentive worth A$2 per kilogram of renewable hydrogen produced during the same period. The incentives will be provided once projects are up and running, producing hydrogen or processing critical minerals used in products like wind turbines, solar panels and electric cars, Chalmers said.
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