Due to the rising growth in people taking up renewable energy solutions, Australians are now paying the price with massive electricity price hikes. The March 2010 quarter consumer price index showed annual electricity inflation hitting 18.2% – the biggest electricity price increase since the early 1980′s when general inflation was in the double digits.

This price hike is on top of the previous 12 month increase of 7.7% and the 10.0% increases from the March 2008 figures. In April, Origin Energy Managing Director, Grant King said power prices could triple by 2020.

Considering the current quarterly bill for households in Australia is $300 on average, this is a huge increase and would take the average household spend on electricity to around $3,600/year by 2020.

As more and more people realise the value in renewable energy solutions, this situation will only get worse, as a shift is created in the supply and demand for traditional sources of electricity. If one can make their home non-reliant upon traditional forms of electricity they will of course avoid these and any further price increases.

The added benefit to more people taking up renewable energy solutions is it makes them more affordable as demand increases, not to mention the overall benefit to our planet and well-being of future generations.