19 Jul Australian consumers prefer companies using renewable energy – ARENA report
Australian businesses are underestimating the value consumers place on renewable energy use, according to a new study by the Australian Renewable Energy Agency (ARENA).
The research undertaken by the national renewables advocacy body found that 80% of Australians believe firms should utilise renewable sources of energy, but only 46% of companies surveyed are actually using clean power.
This impasse between consumers and businesses is further illustrated by the fact that 57% of the 92 companies surveyed believe customers have no expectations for them to use renewables.
In addition, 76% of consumers would choose a green product or service over a similar one that does not make use of renewable energy.
“The benefit [of using renewable energy] for big businesses is substantial,” said ARENA Chief Executive Officer Ivor Frischknecht.
“Consumers are more likely to reward companies that take the plunge with greater loyalty and higher tolerance of price fluctuations.”
“If companies stand on the sidelines for too long, they risk falling behind their competitors in terms of saving on energy costs, reaching sustainability targets and meeting changing customer expectations.”