Is Renewable Energy the Solution for High Electricity Prices?

Solar Renewable EnergyRenewable energy seems to be the solution for 75 percent of Australian businesses that want to avoid paying higher electricity prices, according to a Climate Council report.

Lack of competition served as one reason for the expensive costs, while prices for wind and solar power are declining significantly at the same time.

Some businesses prefer to install industrial high-pressure pipe fittings for mechanical systems not only to save money but also to support Australia’s national energy policy.

Sustainable Cause

Energy efficiency should play a key role in crafting the country’s policy on sustainable buildings and architectural design. Experts suggested that finding a cost-efficient source of power generation would be useless, if industries do not consider the impact of energy consumption.

The Australian Sustainable Built Environment Council and ClimateWorks Australia discovered that reforming the National Construction Code would be a key part of energy-efficiency puzzle. Better requirements for building codes could reduce cumulative greenhouse emission by almost 11 million tonnes through 2050.

The Climate Council report also cited the electricity sector as the biggest source of pollutants in Australia, so a sustainable shift to renewable energy may help in achieving this goal.

Social Responsibility

Aside from cheaper costs, those who made the switch to renewable energy want to enhance their reputation as a brand. For instance, manufacturers have used them to have a great impression from stakeholders and clients.

More consumers are also patronizing environmental awareness and social responsibility, which then compels businesses to rethink where they source their energy. They understand that people are less likely to invest or spend money in a company that has no clear sustainability plan.

Conclusion

It may take a while before all companies no longer depend on electricity for power generation, but the increasing number of Australian businesses that do so should indicate that the concept of energy-efficiency continues to change over time.