Australia appears to be taking up the mantle when it comes to the threat of climate change, as the nation now has 2 million homes powered by solar. This landmark adds to the growing confidence in the renewable sector that Australia is trying to develop off the back of its well-suited natural surroundings.
The country is perfectly set up for harvesting the power of the sun, wind and water, and now it seems as if the renewable energy movement is beginning to pick up a significant pace.
The reason for this key development is due to home solar power sources and not those delivered through a federal grid operation. This means that solar power is easier for Australia to maintain and has a direct effect on reducing energy bills. Should this continue to be the case, there could well be a serious benefit to the Australian economy, as consumers will have increasing amounts of disposable income.
This surge also indicates that the Australian government does not have to work alone in driving the movement toward renewables by installing grid-connected solar power resources. The potential for Australia to utilize its off-grid mechanisms puts it in a great place to become one of the world leaders in renewable energy.
According to the Clean Energy Regulator, the adoption of solar power at home has now reached 2.02 million dwellings, which is an impressive 12% rise from 2017 to 2018. This shows just how quickly Australia is upscaling and suggests that if the country continues at this rate, then it may not be too long before those who have installed such power sources end up being in the majority.
Initial criticism of federal departments stated that they were suffocating the growth of solar power by reducing the amount that each household could get back on feed-in tariffs. However, these have reduced at the same time as solar power system prices, which somewhat negates any bad effect that could occur.
With the cost of solar having plummeted 75% over five years due to a decrease in the cost of sourcing the materials needed to build power systems, it has become a more attractive proposition. At the same time, battery storage options are finally become viable in cost as well as performance. While they are still out of the reach of many, they are dropping in price enough to be a good long-term investment for many households. Should battery storage continue to become more affordable, adoption rates in Australia are likely to increase at a fairly rapid pace.
Some solar companies have cited battery storage as the key reason why solar power is starting to rise so steadily. Solahart General Manager Steven Cranch said that the prices are now “quite stable.” This allows people to invest without fearing fluctuating prices, and with current world economies seeming more volatile now than in the last few years, some security for energy bills at home should only be more attractive to Australians as time goes on.
With battery prices expected to keep falling as they become one of the major drivers of renewable energy adoption in Australia, it is apparent that the solar sector will be among those to benefit most.