How Popular Is Solar Energy In Australia

Factors such as favorable government schemes for small scale solar power generation upcoming large scale solar power projects and supportive government packages for the solar power industry in the event of covid 19 global pandemic to support solar pv installers in the country.

How popular is solar energy in australia.

An australian government backed trial of peer to peer p2p solar trading has demonstrated the potential of localized two sided energy markets and blockchain technology to improve the energy system. The most common use of solar energy is solar thermal water heating. Future of solar energy. The solar power market in australia is expected to grow at a cagr of 19 56 during the forecast period of 2020 2025.

There are a number of reasons why solar power is a good investment for the future especially in a country as warm as australia so the future of solar energy is good for here. The morrison government will continue to fund australia s renewable energy agency to the tune of 1 43bn over a decade but overhaul its mandate so there will be less investment in solar and wind. Projections estimate that solar power usage worldwide will grow 50 percent between 2019 and 2024. Solar pv systems play an important role in off grid electricity generation in remote areas.

This is because it is the continent with the largest solar radiation per square meter of any continent. Australia s energy markets have not experienced a dull year in over a decade 2020 will not be an exception it promises to bring both good and bad news for solar investors leonard quong an energy analyst. Western australia is looking for global partners to explore the development of renewable hydrogen projects as part of a hub that could host up to 1 250mw of solar energy and 270mw of wind power. As of june 2020 australia s over 2 4 million solar pv installations had a combined capacity of 18 583 mw photovoltaic pv solar power of which 3 290 mw were installed in the preceding 12 months.

However australia s current use of solar energy is low with solar energy accounting for only about 0 1 per cent of australia s total primary energy consumption. This increase in popularity isn t coming without good reason. However australia s use of solar energy account for about 0 1 per. Solar pv generated 3 1 per cent of australia s electricity in 2016 17 the majority of which came from small scale rooftop pv more than two million or 21 percent of australian households now have rooftop solar pv with a combined capacity exceeding 10 gw visit the australian pv institute s live map for live solar pv data.

Notably the desert regions at the center and in the northwest have the highest solar radiation in australia. However current electricity tariff structures would need to be modified to realize the full stack of values that this technology has to offer. With announcements surveys and reports pointing to a massive drop in investor confidence 2020 is shaping to be a rollercoaster year for the australian renewable energy sector. In 2019 59 solar pv projects with a combined capacity of 2 881 mw were either under construction constructed or due to start construction.