3.3GW Of Rooftop Solar Power In Australia By 2020

According to Bloomberg New Energy Finance, current Australian policies for promoting renewable energy will generate at least $36 billion in new investments by the end of the decade.

Up until 2014, small scale solar installations will be driven by solar feed in tariffs and the Solar Credits rebate. Bloomberg New Energy Finance forecasts that in 2015, in a post-Solar Credits environment, a 1.5 kilowatt system will cost $ 4,500 in Australia, getting close to half of what a system would cost now without solar rebate support.

In 2020, Bloomberg expects Australia having 11.9 gigawatts (GW) of wind energy, 4.3GW of large-scale PV and 1GW of thermal solar; based on the assumption Australia meets its mandatory national targets. In addition to those amounts, households and businesses will own 3.3GW of capacity in the form of rooftop solar power.

Renewable Energy News