Currently, Australian solar power generation adds up to around 7% generation capacity - but as solar panels do not always produce electricity, makes up some 2% of Australia's total electricity generation. But, particularly in long summers, some states see solar contribution percentages in the double digits. With the cost of grid-powered electricity rising, but the costs of solar tumbling, the market is seeing exponential growth in solar power adopters in business and residential sectors.
While solar's grip on the industry cannot challenge coal or diesel just yet, the falling price of installation and innovation in the market will push solar to strength to strength. Current solar panels produce energy at 10c per kilowatt hour or less, and this price is projected to drop to AU6-7 per kWh by 2020 - emerging as both a price and efficiency competitor.
Interestingly, data gathered by the Fraunhofer Institute for Solar Energy Systems ISE shows that, as the production of solar panels doubles, the price is cut by around 20%. The price of current solar power is some 40 times below figures from 30 years ago, and it is likely that by 2019, manufacturing costs will fall by another 30-50%.
Set 'soft' costs of solar, such as installation, mounting and maintenance, are unlikely to see as much of a shift, but continuous innovations within the industry will allow ongoing increased cost efficiency, and a sunnier Australian future.
Reference: energy-saving-technologies.blogspot.com
