Either Australia is chock-full of tree-hugging hippies, or the average Aussie is increasingly understanding how much money can be saved by making the switch to solar panels …and yes, it’s the latter.
According to statistics published by the newly-formed REC Agents Association (RAA), 665,215 solar power systems for which certificates have been registered were installed between 2001 to the end of March this year, representing an installed capacity of 1.431 gigawatts.
Add to that 574,503 solar hot water systems and throw in 149,420 air source heat pumps (arguably also a solar technology) for good measure and the total figure is actually closer to 1.4 million systems.
The RAA says 20% of Australian households that could have a PV or solar hot water system installed have done so, thanks largely to support provided under Australia’s Renewable Energy Target (RET), which has helped reduce the installed cost of a PV system 75% over last 5 years.
The RAA reiterates a point so often made but also often ignored by those against households making their own electricity or saving on water heating bills with solar – renewable energy schemes are not a major contributor to electricity price increases.
Quoting data from the Australian Energy Market Commission (AEMC), network costs (transmission and distribution) and wholesale electricity costs, (including the price on carbon) are expected to make up 80% of the total projected increase in electricity prices over the next few years, with support for renewable energy projected to comprise only 3%.
REC Agents Association was recently established to represent businesses creating and trading in Renewable Energy Certificates (RECs). RECs are the mechanism behind Australia’s Renewable Energy Target and the basis of the Solar Credits Scheme; a solar rebate that will soon be slashed by 33%.
