Fuel crisis accelerates race to electrify as businesses get off diesel | The Business | ABC NEWS

The Middle East war and the oil supply squeeze have supercharged the shift in businesses away from diesel towards renewable energy. Australia's biggest business lender, NAB, said the uptake of loans to finance green equipment between March and May this year was almost double the uptake over the same period a year ago. Surging fuel prices have left firms clambering to find alternative energy sources or risk a major squeeze on budgets. "It is rapidly, thanks to (Donald) Trump's war on Iran, coming up the learning curve," Climate Energy Finance founder Tim Buckley said, of businesses understanding how they could use renewable energy. NAB's green program offers discounted finance in partnership with the Clean Energy Finance Corporation. It said electric vehicles (EVs) dominated the program, with EVs accounting for about half of all assets financed, as businesses reduced exposure to volatile fuel prices and supply disruptions. Construction firms are also investing in batteries to power cranes. The explosion of batteries on the market means energy can be stored and released during what would otherwise be peak time and cost of electricity usage.
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Read more here: https://www.abc.net.au/news/2026-06-10/fuel-shock-spurs-business-uptake-of-green-equipment/106754040


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