Release Date: 22-Jan-2013
The last couple of years have truly been the solar years for Australia with solar announcing its arrival in a grand manner. More than 1000 MW was added in these two years which has given solar power development the required momentum. This was achieved through a change in policies and a greater shift of focus of the government from other renewable sources to solar energy. The addition of such high installed capacity in the country catapulted its status to the 10th position among the solar countries in the world bringing the newly adopted technology to the fore front.
Australia moved past world solar leaders Germany, China, Japan and United States in the residential PV systems sector installed capacity in the world in 2011. At 392,500 households switching to solar power, the country is sprinting towards accolades in the field of solar energy. Even though its installed capacity is way less that the other countries, it has been able to achieve a big feat by focusing on small PV systems instead of large scale solar power plants.
The slashing of feed in tariffs and closing of many rebates and subsidy programs will apparently not have much of negative effect as anticipated, because the decreasing solar prices have now made solar power more affordable and the high power prices would fetch more revenue for feeding the extra power into the grid. The module manufacturers, especially from China, are fighting hard to gain more market share which is leading to intense competitive pricing, a reason for household owners to rejoice. The Australian modules are more expensive because of the better quality but to gather the market share they also have to cut their prices. The industry experts are anticipating solar panel prices to reduce drastically in the next two years to a level that will encourage every household to employ solar energy for power production.
With the commercial solar power plants also being constructed and the sector gaining unprecedented focus and investment, the Australian solar sector is experiencing a holistic growth. Previously inclined towards residential systems, the sector has now achieved a pace which will enable it to sustain growth based on the momentum gained so far, allowing investors to look into technological advancements.
For more information visit: Australia Solar Power Sector Analysis