The Clean Energy Regulator has announced five new priority methods to be developed over the next 12 months.
Commenting on the regulator’s announcement, Minister for Energy and Emissions Reduction, Angus Taylor said the new methods would expand the range of activities eligible under the Emissions Reduction Fund (ERF).
Mr Taylor said the new ERF methods covered transport, including emissions reductions created by electric vehicle charging and hydrogen refuelling infrastructure, and hydrogen, including injection of clean hydrogen into the gas network and the use of hydrogen in electricity generation.
He said the other methods in line for development in 2022 were the integrated farm method, carbon capture use and storage (CCUS or carbon recycling) and savanna fire management.
The Regulator’s announcement follows the finalisation of its ERF method to credit abatement from new carbon capture and storage (CCS) projects.
Mr Taylor said the new method would award large-scale CCS projects that captured and permanently stored carbon underground with tradeable high-integrity units (Australian Carbon Credit Units or ACCUs).
“Each ACCU earned by a CCS project represents one tonne of carbon emissions avoided,” he said.
“Projects will be able to sell ACCUs to the Australian Government at bi-annual auctions or sell them on the private voluntary market,” Mr Taylor said.
