The Australian economy is about to get a big boost as a Perth company makes its move into the world’s largest and most lucrative area for solar energy production. By the end of this year, Australia’s first ever commercial manufacturer of this ultra light yet environmentally friendly nanotechnology, carbon nano-tube, will be ready to create new-world market revenues worth billions of dollars a year in the high demand area of solar power. It is estimated that by 2020 that solar power will be the cheapest form of electricity, and that it will account for more than 70% of Australia’s entire electricity consumption.
Perth Company Makes Breakthrough With Nanotechnology
The technology, which has already been developed in the United States and Japan and is now being mass-produced in Australia, will help power a wide range of industries that need to make use of electricity for a prolonged period. It is likely that large companies will soon have solar-powered factories, farms, and even office buildings.
For businesses and industries that are currently using fossil fuels or coal, such a company may seem like an unnecessary expense. However, there are many factors that need to be considered when deciding whether or not to make the switch, and there may well be no better time than now. The global energy crisis has left people with limited options. Fossil fuel prices are at an all-time high while the governments of some countries, like Venezuela, are unable to afford the rising energy costs that have resulted from the global economic downturn.