Energy Action's Australia’s leading energy management organisation dedicated to providing financial advice on electricity derivatives and preparing innovative energy management solutions to their wholesale consumers across a wide range of industry sectors.
“In response to growing consumer demands, businesses are now trying to find ways to reduce, eliminate or create renewable methods to achieve net zero to ensure a neutral footprint on the environment. The bushfires have been a wake-up call for businesses to take up affirmative action to achieve net zero in the future.”
Despite the Australian bushfires providing a rocky start to the new decade, businesses and consumers can remain confident in the government’s ability to secure a successful energy transition towards a low-carbon future. Particularly, three important themes for the upcoming year focus on how consumers will benefit from lower energy prices, how businesses will operate in a supply over demand landscape and the rising social and corporate discussion surrounding net zero.
Major corporations including Qantas and Lendlease and prominent politicians including Anthony Albanese have become important public figures leading important discussions on solving the climate crisis. Their fierce determination has inspired thousands of other businesses and government entities to create their own initiatives in reducing carbon emissions and achieving a net zero Australia.
“For customers and businesses to achieve net zero, they will definitely need to meet key targets. First thing is they need to measure their environmental footprint and discover where all their energy is being used. Then businesses decide the best measure to reduce their energy usage and should make the active choice to purchase green energy.”
Although prices are slowly decreasing, there are potential energy risks that will impact Australian businesses. The introduction of renewable energy to the national grid is intermittent and isn’t ideally matched to consumer consumption requirements. Although coal-fired power plants were an option, they bring inherent risk to the future of the energy market.
In addition, government policy regarding the energy crisis does not drive any potential investment in energy generation. The absence of policy integration to respond to the climate crisis combined with minimal supply of lower carbon opportunities means no funding has been provided to bridge the growing gap towards lower investments in renewable energy.
To ensure an energy efficient future, Energy Action encourages government bodies to embrace hydro and battery power as a viable alternative for coal and recommend businesses to enter power purchase agreements to underpin new investments whilst supporting future energy demands.
Original article was published here