FRIDAY 18 APRIL, 2014 |
Small Scale Solar A Stand-Out Performer
Global investment in renewable energy jumped in the first quarter - and in
Australia, it's still citizens leading the revolution through rooftop solar
According to Bloomberg New Energy Finance (BNEF
investment in clean energy around the world reached USD $47.7bn during the first
3 months of this year.
The stand-out sector was small scale solar power (less than 1MW systems); which
skyrocketed by as much as 42%. Overall investment in solar (large and small) was up 23% at
drawing on data from BNEF and Pew Charitable Trusts, states Australian
households accounted for nearly two thirds of total investment in renewables in
the nation in 2013 ($2.8 billion), and practically all of it so far this year.
RenewEconomy states more than 4,000 applications to install small systems are
being a lodged a month in the south-east Queensland region managed by Energex. In South Australia and Western Australia,
small scale system uptake is more than 2,500 a month, and in Victoria just below
That uptake is so strong isn't surprising. In addition to the lure of households
being able to slash or even wipe out their power bills; there is an added sense
of urgency given fears with regard to the future of Australia's Renewable Energy
Target (RET). The RET provides support for the purchase of small-scale solar
power systems; which can amount to thousands of dollars.
Another factor helping to drive uptake is the availability of innovative
financing arrangements - such as zero dollar deposit payment plans. National
provider Energy Matters' Save
As You Go
initiative is structured in a way that in addition to the zero
deposit; repayments are structured so many households will repay less per week
than what they would spend on equivalent mains electricity supply.
According to Energy Matters, solar is still one the highest
in Australia - outperforming shares, property, gold, global fixed interest or even fine art.
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