Australia's Guarantee of Origin Scheme to Boost Green Industries and Hydrogen Production
Key Ideas
- The Guarantee of Origin (GO) scheme in Australia will enable producers of green and low-emissions products to differentiate their goods from fossil-fuel based products.
- Overseen by the Clean Energy Regulator, the GO scheme will track and verify emissions across products' lifecycles, supporting the development of new green industries in Australia.
- The scheme will play a crucial role in eligibility under the Hydrogen Production Tax Incentive, essential for growing renewable hydrogen production in the country.
- The new renewable electricity Guarantee of Origin (REGO) certification mechanism will replace the Large-scale Generation Certificate (LGC) framework under the Renewable Energy Target, boosting Australia's competitiveness in clean energy markets.
The Australian federal government has introduced a Bill for its landmark Guarantee of Origin scheme, aiming to differentiate green and low-emissions products from fossil-fuel-based goods. Overseen by the Clean Energy Regulator, the scheme will track and verify emissions across products' lifecycles, creating certificates proving the origin of renewable electricity. It is part of the $22.7 billion Future Made in Australia package, supporting the development of new green industries. Additionally, the scheme will ensure eligibility for the $6.7 billion Hydrogen Production Tax Incentive, crucial for expanding renewable hydrogen production in Australia. The REGO certification mechanism will replace the LGC framework under the RET in 2030, enhancing Australian competitiveness in clean energy markets. Assistant Minister Josh Wilson highlighted the scheme's importance in unlocking investment in net-zero industries, promoting clean products, and improving Australian competitiveness. The Clean Energy Council praised the scheme for building trust, preventing greenwashing, and enhancing trade opportunities to develop net-zero emissions industries leveraging renewable energy resources.
Topics
Certification
Renewable Energy
Government Policy
Emissions Reduction
Clean Energy Transition
Green Industries
Trade Opportunities
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