...AND CHEAPER...:

Australia's major industrial energy users could cut their energy costs by almost a quarter by switching to renewable supplies and could be key to an Australian manufacturing revival, a new research report has shown.

The total savings that could be achieved by a wide-scale shift to supplies of wind and solar would amount to as much as $1.6 billion per year, representing a 23 per cent cut to energy expenses, the report by the Australia Institute's Centre for Future Work finds.

According to the research, these savings grow over time, and by 2050, a shift to powering manufacturing with 100 per cent renewable could cut energy costs by as much as 33 per cent, saving large-users an estimated $2.2 billion annually by 2050.

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