Australia’s growing population is creating a need for further accommodation, sparking investment in residential development.
However, the country’s project managers will have to deal with significant challenges in order to ensure these developments are sustainable. One of the easiest – and now the cheapest – methods of achieving this with renewable energy involves rooftop solar panels.
According to the Australian Bureau of Statistics, the value of residential construction work completed in the June quarter grew by 7.4 per cent this year in comparison to the 2014 results. This increase in activity creates the perfect platform for a focus on renewable energy installations, especially with new research revealing the Australian market for the technology is one of the cheapest.
Rooftop solar cheap for Australians
Not only are rooftop solar installations a cost-effective option in the renewable energy market, a recent report from the International Energy Agency (IEA) found that it’s one of the cheapest ways to generate electricity overall.
These trends have greatly increased Australia’s standings in the global renewable energy industry, with these cost reductions leading the IEA to move the country’s ranking from tenth to eighth. Currently, China, Japan and the USA are dominating the market, holding the same positions they did in 2013.
According to IEA data published by Renew Economy, the reduced price of solar power systems has already had a notable effect on Australia’s support for renewable energy. Last year saw almost 13 megawatts (MW) of domestic solar power installed around the country. This brings Australia’s total solar capacity to 148 MW.
Large-scale solar continues supporting role
Australia’s renewable energy future depends on more than just the efforts of residential and business rooftop solar, with a series of large-scale solar farms also tasked with contributing to sustainable electricity generation.
The Broken Hill Solar Plant located in NSW recently set an important milestone, with the facility hitting its full capacity of 53 MW for the first time. According to Acting CEO for the Australian Renewable Energy Association Ian Kay, the event is an notable one for the rest of the industry.
“The compressed commissioning phase, which has resulted in full generation at the Broken Hill plant, sends a positive signal for large-scale solar in Australia and is further proof that it’s possible to speed up project development by drawing on existing experience and expertise,” he explained.
To find out how MPower’s expertise with renewable energy installations can change your next project, contact the expert team.