Clean energy investment continues to rise around the world, according to new data released by Bloomberg News Energy Finance, but not everywhere. Australia, despite seeking to portray itself as the forward-thinking country we know it to be, has recently seen a severe decline in clean energy investment due to the approach to climate change taken by the Abbott government.
This decline in investment is worrisome for numerous reasons, including the fact that Australia is already feeling the heat of global warming, but it is important to note that not every aspect of the clean energy sector has been negatively affected.
Residential solar power systems, thankfully have not been affected by these trends. There are now 1 in 5 houses in Australia with a solar power system, and 2015 is predicted to be another boom year as battery storage becomes available. While this is great news for Aussie homeowners, the overall clean energy trends in Australia are cause for concern.
How Things Stand at the Start of 2015
With the exception of a few countries, most notably Australia, clean and renewable energy investment around the world is looking very positive indeed. Investments in a wide range of clean energy sources spiked significantly last year, rising 16 percent to $AU383 billion. China is leading the way with increases in investment by as much as a third, followed by the US and Brazil.
Investment in Australia shrank by 35 percent according to the Sydney Morning Herald (some sources put this figure much higher at 70 percent), most of which has affected large-scale clean energy projects, as investment in small-scale solar energy continues to remain strong. Although the continued strength of home solar systems is reassuring, the significant decline in investment in large scale projects is alarming news indeed.
Australia has prospered over the years as a result of taking advantage of our vast natural resources; however, the resources we are currently taking advantage of are not those that are in-line with green ideas, but rather those that are in direct opposition to them.
What We Must Do
Choosing clean, renewable energy is the right choice for the environment as well as our finances, something you will know all about if you have invested in solar panels for your home. In addition to using your vote to see Australia adopt a different, more responsible stance on clean energy investments and reductions in carbon emissions but there are other things that you can do, such as:
- Make your voice heard – Join Solar Citizens
- Invest in private clean energy projects for your home and business
- Get value from solar energy at home – a solar system can now pay for itself in less than 3 years! Find out more about the ROI of a Solaray Solar Power System
If we Australians are to continue to enjoy a high standard of living, some of the best wages in the world, and call our home a true heaven on Earth home for many years to come, we must dramatically alter the course our government has taken, as their stance on climate change, clean energy and economic development is simply not sustainable.