The Australian Senate has passed the Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024, a move hailed by the Clean Energy Council as a major boost for jobs, manufacturing, and economic growth.
The bill introduces refundable tax credits for the onshore production of green hydrogen and the processing of critical minerals, positioning Australia as a stronger investment destination for clean fuels, low-emissions metals, and critical minerals.
Our Future Made in Australia plan is all about Australian workers and Australian companies making things here.
Because good jobs and fair wages depend on successful businesses.
Just like the governments of John Curtin and Ben Chifley after WWII, Australia has a choice today.… pic.twitter.com/OT8qtf0hOS
— Anthony Albanese (@AlboMP) February 10, 2025
Prime Minister Anthony Albanese said the bill is part of a broader strategy to strengthen Australia’s industrial base and keep jobs onshore.
“Our Future Made in Australia plan is all about Australian workers and Australian companies making things here,” Albanese said.
“Just like the governments of John Curtin and Ben Chifley after WWII, Australia has a choice today: we can build thriving industries through measures like Free TAFE, the National Reconstruction Fund, and Production Tax Credits—or we could go back to sending jobs offshore like the Liberals and Nationals did when they were last in government. The choice is clear.”
The Clean Energy Council, Australia’s peak body for the renewable energy industry, welcomed the bill, stating that the legislation could unlock billions in private investment, create thousands of jobs, and drive industrial expansion.
Anna Freeman, General Manager of the Clean Energy Council, said Australia has the natural advantages of renewable energy and mineral resources to position itself as a leader in the emerging global industries of green metals and clean fuels.
“These production credits will now help to boost our competitive advantage for the private capital we need to attract,” Freeman said.
“There are many ‘hard-to-abate’ industries – like iron and steel making, shipping and aviation – whose most promising prospects for decarbonisation depend on the availability of competitively priced hydrogen.
“It is far cheaper to make these clean commodities where you make the hydrogen, and so this production credit will open up a wide range of new industrial expansion opportunities and help our existing industries to remain competitive as they decarbonise.
“They will also support the decarbonisation of industries like steelmaking, shipping, and aviation by making clean hydrogen more accessible.”
The tax credits will only be available to businesses that invest in and produce renewable hydrogen within Australia, ensuring direct economic benefits.
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