The energy price squeeze has led to a huge increase in uptake of solar panel installation as businesses try to cut costs.
New figures released by the Australian Photovoltaic Institute show that Australia generated a total of 6 Gigawatts in solar capacity at the end of the March.
To put those figures into context, that is enough to power 1.3 million homes, or a city the size of Melbourne. Our experts at Leading Edge will do the research and find the best option for your business. Generating your own power will slash your energy costs and lead to big savings. You can find out more about what we can do to help you on our website.
Huge surge in solar uptake due to worries about energy costs
Renata Egan, chair of the institute said: “There’s been just a huge surge recently on the back of the energy concerns earlier in the year.”
Commercial take-up of solar now accounts for 12.7 per cent of total capacity, with NSW leading the way, Dr Egan said. Households account for 79 per cent of solar capacity and solar farms 7.7 per cent.
Total capacity could top 7 gigawatts within a year with a host of solar farms and a rise in companies turning to solar driving the extra demand. That level would be the equivalent of about 1.5 million households’ supply, or about Sydney’s size.
At present, about 26 per cent of households have solar panels on their roofs but “there’s still plenty of rooftop capacity” available, Dr Egan said.
Energy costs set to rise by 10% this year
The closure of coal-fired power plants in South Australia and Victoria and policy confusion at federal and state levels have contributed to a jump in wholesale electricity prices. Consumers will likely face power price increases of 10 per cent or more this year.
Gas prices are likely to be rise even faster – prompting the Turnbull government to pledge an intervention to ensure domestic supplies are not at risk from higher exports.
Surplus solar panel production in China driving prices down
A surplus of production in China is likely to add to the downward pressure on solar module costs this year. Equipment has become a relatively small part of total costs of systems.
The tumbling price of batteries is making it more economic for consumers to store surplus electricity generated from their roofs.
The revival of interest in solar panels comes as some in the fossil fuel industry have blamed renewable energy for rising electricity prices.
How can I get the best deal on solar for my business?
The Federal Government is taking action to try and increase production of electricity to meet demand. But that will all take time and costs will continue to rise in the meantime. The best option available to anyone who wants to shield their business from rising costs is the installation of solar.
Our experts at Leading Edge can evaluate your business and present the best options available on the market to you with the maximum return on investment. We will do the groundwork and lay out what is viable and available to you. With all options on the table, you can then choose what best suits you and your business. Acting NOW will prevent pain further down the track.
About Leading Edge Energy:
Leading Edge Energy is an integrated energy cost reduction solutions provider. We offer a bespoke service to our clients by following our standard “Loop” methodology. In simple terms, we help our clients reduce their exposure to the cost of grid sourced energy by guiding them through a path towards energy cost reduction. We follow the path of highest return on investment to deliver the best possible value to our clients.
Our initial review and assessment process is a complimentary service and you are not obliged to accept our recommendation or offer.
Call us today on 1300 852 770