Affordable power is vital to successfully electrify industry. Renewables are now the cheapest form of new electricity generation. As the cost of renewables continues to drop, Australia stands poised to become a global low-carbon manufacturing hub powered by reliable and affordable electricity.
In recent years, the cost of grid electricity has risen for all consumers - increasing by 80 to 90 per cent in real terms. The largest single cause of price rises has been regulations incentivising massive investment in new and upgraded network infrastructure – poles and wires. Much of this investment has proven unnecessary, but consumers have had to pay for it nonetheless.
Public disputes and the absence of a bipartisan approach to energy policy have obscured a major development: the plummeting costs of renewable electricity.
Last week, Beyond Zero News spoke to Mark Bretherton, Media Manager at the Clean Energy Council, about the their 2018 Clean Energy Australia Report. The findings are exciting and demonstrate the energy transition in action. This year, renewable projects starting and underway will deliver 5,600 Megawatts, over $11 billion in investment and 6,080 jobs.
So how can Australian manufacturing harness this opportunity and use cheaper energy to revive its fortunes? At the Electrify Industry summit on Thursday, September 13, our award-winning team will explore this question in a new report which looks at the benefits and opportunities of electrification powered by renewable energy. The Summit will also look at the key role energy efficiency plays in creating a leading-edge company in a zero carbon economy.
Listen to Mark’s interview here.
To book your ticket to the Electrifying Industry Summit, click here.