You don’t need inside information to know the future of energy is in renewables. The question really is, how quickly will we get there?
Australia has one of the most polluting and expensive energy sectors in the world, however nearly 90% of Australians support more investment in renewable energy.
As a result, the country’s innovative clean energy sector is on the rise. Over 80% of investors in this space are expecting an increase in investment over the next five years, so it could pay to get in now.
What’s the biggest challenge facing renewable energy?
Australian householders are leading the way when it comes to the adoption of renewables. The uptake of rooftop solar is growing faster than ever before, with 4 million homes forecast to have solar by 2030 and battery installs projected to reach 800,000 that same year (up from 25,000 in 2018.)
We now need more support from government and industry. That’s why it’s important that we vote with our feet (or wallets, as the case may be) and set the smart example for our politicians.
This is already happening, according to the Australian Energy Market Operator (AEMO). Its latest report released earlier this month illustrates how the rapid uptake of both rooftop solar and large-scale commercial systems is transforming the major power system in Western Australia.
“The growth of renewable generation in WA continues to drive a paradigm shift in the power system,” said Cameron Parrotte, AEMO Executive General Manager for Western Australia.
Over 27% of Western Australian households currently have rooftop solar installed, and the AEMO expects the present level of 670 megawatts (MW) generated by renewables to increase to 1215 MW by 2021 and account for about 2500 MW of installed capacity by 2030.
Meanwhile, opportunities exist for state governments to generate significant revenue streams as a result of renewable energy investment.
A recent report by Beyond Zero Emissions outlined a plan for the Northern Territory that could generate $2 billion in renewable hydrogen export revenues by 2030 and create up to 8000 new jobs by tapping into the territory’s rich solar resources.
Why should you care about a green energy future?
Every day, Australian’s make decisions about how to spend, save and invest their money.
As recently as a few years ago, the term ethical investment was widely unknown, but over the last decade Australians have become increasingly conscious of backing companies that hold similar values to their own.
As an individual, it’s easy to underestimate the impact your investment can have on Australia’s future. But by putting your money into fossil fuel industries, you’re contributing to the survival of an outdated, expensive, polluting source of energy generation.
Around the world, there are millions of young people taking to the streets to tell adults how much they care about action on climate change. They’re telling us that they’re fed up and that it’s time to act.
Ethical investment is your chance to answer your kids’ call. By investing in companies that are environmentally, ethically and socially responsible, we can influence industries and governments and enact tangible change.
Want to switch to a company that supports renewable energy?
More people are installing solar panels than ever before, and almost 90% of Australians want more investment in renewable energy. At DC Power Co, our vision is an Australia powered by renewables.
DC Power Co is made for solar households, and we offer a suite of services to help our customers get more out of their solar system. From connection to the grid to letting you if your solar system ever stops working, we’re with you every step of your solar journey.