Solar Power Takes Flight
Solar Power Benefits Australian Households.
With the costs of green energy falling, prices for fossil fuel alternatives are on a fast track to re-shaping the electricity markets throughout Australia.
As solar power takes flight, almost one million Australian homes have invested in solar pv systems, or solar energy of some description. Recent studies have shown that approximately 1 gigawatt of solar power has been installed on Australian roof-tops in the last year and the Australian Solar Council states that this has increased the pre-existing capacity by more than two thirds.
Australian home owners felt the pressure when it came to taking advantage of the feed-in tariffs before they were reduced. This ended up pushing Queensland’s solar power sales to more than double, seeing almost 400 megawatts of capacity in 2012.
With the prices of wholesale solar power dropping rapidly and currently sitting at a low of $55c per watt, compared to the average price of approximately $7 per watt in 2008, gives home owners the break that they have been looking for.
Experts have stated that in 2013, another approximate 500 megawatts of solar power for home owners are predicted to be reached, with a similar prediction for sales in 2014 and 2015.
Solar power installations throughout Australia had exceeded a phenomenal 950,000 rooftops by January 2013, and numbers were expected to rise to over 1 million rooftops in February 2013. And according to the European Photovoltaic Industry association, the distribution of solar power throughout Australia has become a huge phenomenon as the output of Solar Pv systems from Chinese manufacturers has begun to sky rocket.
When it comes to the lifetime of solar power, it’s close to reaching what we know as “grid parity” and the conversion of solar and grid prices is predicted to occur some time mid-decade. Solar Pv pricing has been trending down with a 20-25 percent cost reduction for every doubling of capacity globally.