The Australian government has presented a long-awaited hydrogen production tax credit bill to Parliament, featuring a headline incentive of a $2/kg credit for green hydrogen produced between 2027-2028 and 2039-40. This credit, lasting for up to ten years per project, aims to boost the domestic production of green hydrogen and make it financially viable. The bill also includes a provision for a production tax credit for critical minerals, covering 10% of processing and refining costs for a similar time period. While the legislation has received strong industry support, it faces opposition from the Coalition, with concerns raised about the benefits it provides. Despite some skepticism in the Senate, there is an expectation of strong support for the bill, especially due to the potential economic benefits it could bring. Experts believe that the bill is essential for Australia to establish itself in the growing global clean hydrogen market, offering a pathway to viability over time. The legislation is seen as crucial for the country to compete internationally and seize export opportunities. It is also expected to level the playing field globally for green hydrogen, potentially unlocking significant export opportunities worth over $700 billion, particularly in sectors like green iron production and decarbonization. Overall, the bill represents a significant step towards promoting renewable energy and boosting the green resources economy in Australia, despite facing challenges and opposition from certain quarters.