How renewable energy can help a nation get back on its feet

By Ceyda Erem ·

To help the country economically recover post COVID-19, the Clean Energy Council has unveiled a new plan that’s all about investment in renewable energy.

The industry group argued in its report that investment in renewable energy and energy storage has the potential to create 50,000 jobs, lower energy prices, stimulate economic activity in regional areas and position Australia as a ‘global clean energy superpower’.

According to the Clean Energy Council, this infrastructure could lead to a 21st century transmission and electric vehicle (EV) charging networks. 

“Clean energy is one of the very few industries that can deliver strong economic growth while reducing Australia’s carbon footprint and delivering on Australia’s international commitments,” the council remarked. 

“The economic recovery from COVID-19 is an opportunity for A Clean Recovery to set Australia on a pathway to meeting its 2030 emissions commitments.”

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Aside from helping the Australian economy get back on its feet, A Clean Recovery can also result in lower power prices. 

The report claimed that rooftop solar and household battery storage systems both have a role in reducing electricity prices for homes and small businesses. However, large-scale renewable systems are essential to sustain a downward pressure on wholesale electricity prices. 

Of course, there are a few challenges the nation will need to overcome in order to accelerate the expansion of cleaner energy. 

For instance, while rooftop solar and battery storage are crucial to bringing down power prices, upfront costs still remain as a massive roadblock for households. 

The Clean Energy council recommended that the Australian government prioritise issuing low interest loans or reduce the cost of solar systems. 

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If you’ve been thinking about taking the step toward cleaner energy for your home, why not read our solar energy guide to find out how it all works. 

Or if you’re keen to find out which retailers offer green energy plans in your area, enter your postcode below to start comparing your options.

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Ceyda Erem
Ceyda Erem
Money writer

Ceyda Erem is Mozo’s authority on Energy, as well as having broader expertise as a personal finance writer. She loves to put her researching and writing talents into stories that help our readers to make more informed financial choices, whether that’s about finding the best energy deal or writing about the latest sneaky bank tricks. Ceyda has a Bachelor of Arts (major in writing) from Macquarie University.