Off-grid suburb a ‘perfect storm’ for energy giants

Australian energy companies are facing a “perfect storm” as renewable alternatives are hastening the move to off-grid electricity. Earlier this month US energy giant Brookfield announced it had signed a deal with property group LWP to build a new suburb near Newcastle, NSW, powered entirely off-grid, challenging incumbent industries to adapt or perish. The move has enormous implications for rural and regional communities throughout Australia where the tyranny of distance has often led to towns becoming stranded at the far end of a very long energy line. Simon Hackett, chair of RedFlow —an Australian company that designs off-grid batteries — told Fairfax the Australian energy industry is facing a “perfect storm”. “The combination of high energy prices, widespread deployment of photovoltaic solar panels (PV), a ready supply of sunshine and the looming presence of widespread, affordable and effective energy storage systems is encouraging customers to look for other ways to supply their energy needs,” he said. Read the full story at the Sydney Morning Herald