Horizon Power has released its first Decarbonisation Pathways Index, providing a comprehensive overview of the current state of Western Australian businesses’ decarbonisation efforts.
The innovative framework is intended to support Western Australian business leaders on the shift towards a low carbon future, while offering valuable insights into the sentiment and their ability to prepare for decarbonisation.
The report, from Western Australia’s regional energy provider, is the first of its kind for the regional Western Australia energy landscape. It looks at the key factors impacting regional businesses and practical actions they can take to respond to increasing demands for emissions reductions.
The Index establishes an ‘energy transition baseline’, offering businesses actionable insights and the opportunity to partner with Horizon Power to create a framework for their decarbonisation journey.
50 senior leaders from regional Western Australian businesses were surveyed about their energy transition goals for the Index, as part of Horizon Power’s long-term commitment to supporting and partnering with regional Western Australian businesses.
The report reveals regional Western Australian businesses are in the early stages of energy transition maturity. Although some businesses are actively working to better monitor and manage energy use and emissions, the investment in renewable energy sources is largely limited to solar.
According to the Index, 70 per cent of regional businesses place a high or extremely high priority on lowering carbon emissions, with 92 per cent believing climate change poses a risk to their business. However, approximately 50 per cent of respondents believe a lack of understanding of the energy transition and time to research are proving to be barriers to invest in solutions required to progress decarbonisation.
The report also reveals 64 per cent of respondents believe businesses like theirs should be leading the way when it comes to renewable energy usage, however only 34 per cent are actively investing in renewable energy. Upfront capital investment is the largest impediment to business investment in renewable energy sources.
Regional business leaders from 13 industries, including accommodation and food services, agriculture, forestry and fishing and retail trade – across the Kimberley, Pilbara, Gascoyne/Mid West and Esperance/Goldfields – contributed to the survey which was open to Horizon Power’s large consumption regional businesses.
Horizon Power is advancing towards net zero carbon emissions by 2050, utilising cutting-edge technology to deliver a variety of green energy solutions to regional and remote customers across the state. This ranges from standalone power systems,hydrogen generation,storage to energy storage solutions and electric vehicle charging infrastructure.
Horizon Power Chief Executive Officer, Stephanie Unwin, said the Index identified “where regional Western Australia businesses were in their energy transition journey and the opportunities to turn ideas into action”.
“Our ability to deliver the best energy solutions for regional growth and vibrant communities requires a successful partnership working closely with businesses and playing an important role in supporting the energy transition across regional Western Australia,” Ms Unwin said.
“The energy industry is undergoing a major transformation as the world moves towards a low-carbon future. To navigate this transition, it’s critical to have a clear understanding of the challenges and opportunities ahead.”
Horizon Power is already advancing customers’ progress towards emission reductions through a range of projects including the new DERMS technology, which is enabling greater access to renewables and large-scale battery energy storage systems (BESS) which are increasing access to renewable energy.
Ms Unwin said the report was “a call to action for all businesses in regional Western Australia”.
“It’s an invitation for business leaders to create a sustainable and equitable energy future for all. The Index identifies the key challenges and opportunities facing regional businesses and the energy sector, offering a unique perspective on the energy transition and highlighting the critical role of WA business in driving meaningful change.”
To download the Decarbonisation Pathways Index, visit horizonpower.com.au/energyindex