A study has found that most Australians feel positive about adopting electric vehicles (EVs) and electrifying their homes despite rising living cost pressures.
Specifically, there was significant support for electric devices when it comes to essential functions such as heating (58 percent electricity vs. 20 percent gas), hot water (54 percent vs. 32 percent) and cooking ovens (63 percent vs. 25 percent).
The institute cited environmental reasons (59 percent) as the largest driver for the trend, followed by the potential for cheaper electricity bills (18 percent) and lower carbon emissions (15 percent).
Petrol and Diesel Vehicles’ Popularity in Decline
The study indicated a drop in the popularity of petrol and diesel vehicles as more people embraced new technologies.Hybrid cars have become a top choice for Australian motorists, with 58 percent of the respondents feeling positive about this type of vehicle, compared to 52 percent in EVs and 44 percent in combustion engine cars.
Among those who intended to buy a new car in the next decade, four in ten said they preferred a hybrid vehicle, while a quarter expected to get an EV.
The report said potential environmental benefits, cheaper operating costs and the rising cost of petrol and diesel were the primary motivators for Australians who had adopted or were considering the new car technology.
The figures come as living costs remain the most pressing issue for Australians.
The study found that 77 percent of the respondents were very or extremely concerned about living costs, while 64 percent were worried about electricity prices.
Noah Schultz-Byard, the director of the South Australian branch of the Australia Institute, said Australians struggling to pay their bills needed support to transition from gas to renewable energy at home and in their vehicles.
Energy Shortages Loom on the Horizon
While the report indicated that many Australians supported the electrification of their homes and vehicles, authorities have warned that the country could soon face energy shortages if no urgent actions are taken.The prediction came as at least five coal-fired power stations in the region, which account for 13 percent of the market’s capacity, were scheduled to be shut down soon.
The AEMO said the country urgently needed new projects to go online to ensure the power grid’s reliability over the next decade.
“What we see toward the end of the decade is increasing reliability gaps, and those gaps hit every mainland state in the national electricity market,” AEMO CEO Daniel Westerman said.
Westerman also noted that the new energy projects with a firm commitment to deliver, which the AEMO had examined, were insufficient to satisfy Australia’s future energy needs.
“What we need to see is continuing investments and investment certainty in each [type] of renewable energy and transmission,” Westerman said.
The director pointed out that the development of new renewable energy sources was failing to catch up with the shutdown of traditional power plants across Australia.
He then called for some forms of agreement between governments and energy companies that determined the appropriate timing of the closure of fossil fuel generators to prevent shortfalls in generation capacity.