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A word from the industry
Australian rooftop solar photovoltaic technology used in solar panel systems is among the cheapest in the world thanks to global manufacturing economies of scale, a competitive and experienced installation workforce, and Australia's high solar penetration (the highest per square metre of any continent).
At current price levels, electricity produced via solar panel systems at or near the point where it is used significantly out-competes retail grid electricity.
John Grimes, Chief Executive Officer of the Australian Solar Council said, 'Solar is proving a rational economic choice for consumers and, as an economic investment, outperforms prevailing bank interest rates several fold'.
In addition, emerging battery storage technology is enabling consumers to capture and store solar energy generated during the day for use later, such as at night or in peak times, rather than feeding the excess back to the grid.
The first wave of energy storage is also beginning—including feeding excess solar energy into a resistive element hot water tank to use at a later date—and it is inexpensive, at less than $72 per kilowatt hour to set up.
Large-scale solar is starting to compete with other electricity sources. It is becoming cost competitive with large-scale wind and is cheaper to build than new coal or gas generation power stations.
The enabling tools of energy storage systems and energy management software are quickly maturing and becoming cheaper, offering the availability and robustness of supply consumers are entitled to expect.
These economic fundamentals will drive solar, increasing the adoption of solar panel systems into, and well past, 2020.
The Australian Solar Council provided this content.
Photo: Broken Hill Solar Plant, supplied by the Clean Energy Regulator.
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