According to The Australian Financial Review, farmers battling falling agribusiness returns from the severe drought are turning to the renewable energy market as a way to earn additional income and future-proof their enterprises against climate change.
"More and more farmers are coming to the realisation that they need a survival strategy that takes into account not just normal seasonal weather patterns or even `normal' droughts, but the extraordinary weather that climate change is now delivering," said Angus Shaw, a rural manager at valuers Herron Todd White.
"The clean energy option offers farmers both a regular, dependable, income and a means of reducing the often debilitating mental and physical stresses that can accompany the no-income years."
Depending on the number of wind towers or solar panels, a renewable energy income contract can net an individual farmer as much as $100,000 per year or more with long-term leases up to 30 years.
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