Australia has implemented new legislation to stimulate the production of renewable hydrogen and processing of critical minerals. Under this legislation, a dedicated 'H2 Production Tax Incentive' will be in effect from the beginning of July 2027 until June 2040. Eligible Australian corporations will benefit from a refundable tax offset of A$2 for every kilogram of renewable hydrogen they produce. The primary goal of this initiative is to incentivize private investment in the renewable energy sector and encourage the growth of sustainable practices. By offering tax credits, the Australian government aims to attract businesses to engage in the production of renewable hydrogen and processing of critical minerals, thereby fostering a more environmentally friendly economy. This long-term incentive is designed to provide stability and predictability for companies looking to invest in clean energy solutions over the next two decades.