Redhanded’s Head of Strategy, Lachlan Drummond, talks future tech trends and their impact on urbanites considering a move into regional communities.
For some time we have been exploring a trend we have called a ‘regional and rural renaissance’. We believe that there are push and pull factors that are giving rise to the rejection of disconnected urban existence, in exchange for a more meaningful life connected with people and the land.
In short, our desire to engage and connect in meaningful ways and simplify our existence has underpinned the tree / sea change phenomenon. As a result, we have seen significant growth in regional commercial property investment, upward pressure on ‘lifestyle property’ prices and a boom in hobby farms – among other trend indicators.
Admittedly the growth is patchy and strongest in major regional centres with proximity to cities. However, I feel confident enough to predict a much more decentralised Australia a decade or two from now. I am also prepared to make another prediction which fits nicely with the renaissance trend. That is, the traditional power company model will not exist in 20 years.
There is a lot of talk about disruptive technology and trends, but there is one that is quickly emerging as a genuine threat to an old paradigm and that is off-grid, power independence.
The promise of lower prices through privatisation and competition hasn’t been realised and instead we have higher prices, a bombardment of confusing shiny offers, difficulties in comparing providers and general consumer fatigue and mistrust. If you have no alternative you live with this under sufferance. Telstra exploited this with its ‘happy hostage’ paradigm for many years before realising that consumer sentiment mattered. The same is true for energy companies, but an alternative is at hand.
The Climate Council has just released a report that predicts an explosion in battery storage and the ability for consumers to literally ‘take the power back’.
The report predicts battery storage capacity will grow 50-fold in less than a decade. Into the mix also comes Elon Musk and his Tesla company (among others), putting sexy functionality into cars and battery technology.
Tesla Powerwall Battery
So, where will the traditional energy company be in twenty years and where might you be living? Come and see me if you are living off-grid in a regional centre and are happier for it.