Soaring power prices could revive rooftop solar market

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The roll-out of rooftop solar PV systems has waned in Australia, but higher power prices could bring it back to life.

has started to wane, with the latest figures showing demand is unlikely to grow this year for the first time since 2015.

Clean Energy Regulator chairman David Parker said the first quarter of this year was the third consecutive quarter where more than 1 gigawatt of wind and solar power stations reached final investment decision.“Achieving more than 3 gigawatts of new projects reaching FID [final investment decision] in the 2022 calendar year cannot be ruled out,” he said.

The CER said it had always been anticipated the uptake of rooftop solar would wane in Australia, which has the highest penetration of solar in the world. “This was followed by a steep decline in the number of installations in early 2022, as consumers switched spending to recreation activities from late 2021.”

However, Mr Thornton said with energy prices spiking, solar companies had reported significant growth in inquiries recently.“Rooftop solar remains one of the best investments to relieve cost of living pressures from rising electricity costs, and we expect strong future growth in household batteries, so consumers can make best use of the energy they produce,” he said., or ACCUs, surrendered in the first quarter, up 62 per cent from last year.

 

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