Price rises push companies to renewables

Karen Sweeney

Businesses are warming to renewable energy after some experienced up to 90 per cent increases in electricity bills over the last decade, new research shows.

Almost one in two Australian companies have switched to clean energy sources, including installing their own solar systems.

A report by the Climate Council found it's a global trend, with two-thirds of Fortune 100 companies and almost half of Fortune 500 companies committing to ambitious renewable and sustainability targets.

Australia's figures show business solar installations have grown by 60 per cent in the past two years.

"These businesses are actively investing in renewable energy in a bid to cut costs and take control of their power bills while also playing a crucial role in transitioning the nation away from ageing, polluting and unreliable fossil fuels," Climate Council energy expert Greg Bourne said.

The report also found consumers care about the energy sources businesses use.

Four out of five Australians believe big companies should be using renewables while 76 per cent said they'd choose a product made with renewable energy over a comparable product that used a traditional power source.