Throughout the Australasia region, government agencies are looking for new ways to stay ahead of the threat of an energy deficit and stave off the ill effects of climate change. One important way to solve these issues is through renewable energy sources, from solar farms to wind turbines. But while these alternatives are on their way toward mainstream acceptance, they do still have a long way to go. Until then, fundraising options like crowdsourcing could turn out to be an effective way to fund renewable energy pursuits and prove their importance to solving energy issues within the region.
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As CNBC reports, some entities like the government of South Australia have helped investors come onboard with the idea of renewable exploration by reframing it from a matter of environmental imperative to a matter of potential economic promise in the long run:
Meanwhile China is looking to the public to help fund renewable energy projects—with already some significant success. According to reports, last year Hong Kong-based company United Photovoltaics successfully raised 10 billion yuan (around $1.6 million) in China from a pool of 100 investors through crowdfunding, using those funds to build a 1 MW off-grid solar farm.
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Unived Photovoltaics already has plans to use crowdfunding again in the near future, and other Australasian businesses are as well—especially given the added bonus that crowdfunding has of showing quite clearly where the public’s interests lie by allowing them to vote with their wallets:
The early success of crowdsourcing not only proves that it is a viable method for fundraising—it also proves where the public interest lies, which could prompt officials and private investors to give greater thought to providing their own funding in the future:
Disruption and grassroots efforts are the way of the future, in the energy industry as much as any other. In this case, it could pave the way for a more sustainable and efficient energy system for Asia and Australia.