These cranes are battery-powered as firms increasingly ditch diesel
- Rising fuel costs are pushing Australian businesses to adopt energy-efficient and low-emission equipment to reduce operating expenses and improve resilience.
- Industries such as transport, agriculture, and construction are investing in electric or hybrid machinery and alternative energy solutions to cut reliance on diesel.
- Despite upfront costs, businesses see long-term savings and environmental benefits, though barriers like infrastructure gaps and financing remain challenges.
The Iran war and the oil supply squeeze have supercharged the shift in businesses away from diesel towards renewable energy, bank lending data shows.
Surging fuel prices have left firms clambering to find alternative energy sources or risk a major squeeze on budgets.
“It is rapidly, thanks to [US President Donald] Trump’s war on Iran, coming up the learning curve,” Climate Energy Finance founder Tim Buckley said, of businesses understanding how they could use renewable energy.
At least one of the big four banks said it had seen a surge in business loans to fund renewable energy-related investments and upgrades.
Australia’s biggest business lender, NAB, said uptake of loans to finance green equipment between March and May this year was almost double the uptake over the same period a year ago.
NAB’s green program offers discounted finance in partnership with the Clean Energy Finance Corporation.
It said electric vehicles (EVs) dominated the program, with EVs accounting for about half of all assets financed, as businesses reduced exposure to volatile fuel prices and supply disruptions …
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Original article and photo by "ABC News"
