The potential implementation of the energy-yielding infrastructure would be undertaken by renewable hydrogen project developer Countrywide Hydrogen and, if approved, is expected to take two-and-a-half years to become up-and-running.

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On Thursday, the estimated $50 million project edged closer to becoming official when a memorandum of understanding for a feasibility study was signed between Launceston Airport chief executive Shane O'Hare and Countrywide's Managing director Geoffrey Drucker.

Mr Drucker said the panels would not be affected by Tasmania's often cloudy and dark skies, and believed the technology would produce enough natural energy year-round to power a five-megawatt electrolyser - the system that uses electricity to separate hydrogen from water.

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"This will be the biggest electrolyser project in Australia with the capacity to generate over two tonnes of hydrogen per day," he said.

"That number might go right over people's heads so I can put it into perspective by showing that a Toyota hydrogen fuel cell car is able to travel 800 kilometres off of six kilograms of hydrogen, so it's an extremely efficient fuel."

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Mr Ducker claimed hydrogen was the future of the transport industry, but conceded that its progression had two current limitations - electricity prices, and margins set by a "middle man".

He believed the partnership with Launceston airport could solve both those issues by enabling the company to firstly create its own energy at a significantly decreased price, and secondly to be the direct supplier of hydrogen, rather than enlisting the assistance of established petroleum companies for a fee.

The project is also one of three locations Countrywide aims to set up across the state to ensure hydrogen-fueled heavy vehicles travelling long distances have an adequate amount of stops to fill up at.

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Mr O'Hare said the deal benefited the airport by putting vacant land to productive, sustainable, and responsible use while simultaneously satisfying the organisations commitment to rach net-zero Scope one and two emissions before 2025.

The latter of which would come by way of hydrogen being supplied to the airport so that several types of vehicles on site could be powered using sustainable fuel, while trains, trucks, and busses expected to use the planned logistics hub at Western Junction could do the same.

He did not indicate whether surplus energy generated by the solar panels would be used to power the airport and also did not reveal any profit the organisation would derive from the partnership.

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