GreenPower costs more than standard electricity because it is part of building completely new infrastructure for the grid. But, as with any new technology, development and improvement will see the costs reduce as the infrastructure and demand for it grows.
An estimate of the cost of GreenPower is around 5-8 cents per KWh more than your current electricity rate, if you elect to purchase 100 per cent GreenPower. But every little bit counts towards an investment for future generations. A smaller contribution of 10-25 per cent GreenPower will cost as little as 80 cents to $1 a week, equating to less than the cost of two cups of coffee over a month.
The money that goes to the electricity generators and providers of GreenPower feeds back into the renewable energy sector, helping to build and improve the technology. So like any new technology, the costs might be a little more now, but building a future grid that is supplied by renewable energy will generate savings down the track – both financial and environmental.
For households and small businesses looking to shop around to find the most suitable GreenPower option, the Australian Energy Regulator has created a new energy price comparison website www.energymadeeasy.gov.au to assist in comparing electricity offers (including the GreenPower component) between different providers. The price comparison feature of the Energy Made Easy website is only available in states and territories where the new National Energy Retail Law has commenced (as at 1 July 2013 these include ACT, NSW and SA). Customers who live in other states or territories not covered in the Energy Made Easy website may be able to access other energy price comparison websites in their respective jurisdiction.