Like households and small businesses, Australian farmers are increasingly turning to renewable energy technologies to cut their power costs and shore up their bottom lines.
But a new report from Commonwealth Bank of Australia suggests the shift to solar and battery storage in the nation’s expansive agribusiness sector has only just begun.
According to the bank’s latest Agri Insights report, a staggering 76 per cent of all farmers, nationwide, are planning to tap solar and battery storage, as regaining control over energy costs becomes a major business focus.
“Four in five Australian farmers have told us that cost is a bigger issue than reliability and more than three-quarters of them say they feel like they don’t have control over energy costs on farm,” said Grant Cairns, regional and agribusiness banking executive general manager at CBA.
“In a bid to take back some control and better manage costs, farmers are looking to energy efficiency solutions, and especially to solar power.”
Read more: One Step off the Grid