10 forecasted insights of the rising solar energy companies in Australia
Last year, ordinary Australian homeowners and the solar energy companies they worked with were some of the country’s heroes in forwarding clean energy.
Residential solar panels played a huge role in increasing the amount of renewable energy Australia uses. An additional 333,978 solar rooftop installations joined the grid last year in Australia, providing 2.6GW in energy.
This is an estimated 18% increase in both solar power capacity and installations, in comparison to that of 2019.
What’s more, was this was all achieved during the challenging times of the global COVID-19 pandemic.
The increased demand for solar has meant an emergence of more solar energy companies and workers in Australia, to look after the supply, installations, and all other requirements for new solar systems for home and business owners.
Solar energy companies supply and install solar panels, inverters and batteries, for homes and businesses. In the latter cases, solar companies can provide connection to solar farms. With the Federal Government’s renewable energy scheme, more and more homeowners have been taking advantage of upfront cost savings to install a solar system on their homes.
Some solar energy companies have also provided connections to solar heating water tanks, or solar charging stations for electricity powered cars. In Australia, the Clean Energy Council has reported there are over 900 CEC approved installation companies. With more still emerging or waiting to be registered for CEC approval.
What implications does this growing industry hold for the Australian economy and environment?
1. Save more money off energy bills
Above all else, many home and business owners are looking to sign on for a solar installation to save money off their energy bills. It is a great way to minimise the expenses you spend at home. In some cases, homeowners can take advantage of impressive savings or wipe out their electricity bills by installing the right solar system solution for their building, location, and energy use.
2. Subsidized Costs with STCs
When homeowners or small businesses install small-scale solar panels, they have the advantage of more savings on the cost when they purchase one sooner. Why? The Australian Government’s Small-Scale Renewable Energy Scheme (otherwise known as SRES) awards small-scale technology certificates to residential solar installations, that companies like fossil fuel generators or airlines need to purchase to offset their carbon impact. The amount of STCs you can gain from your installation depends on the panels, estimated amount of solar power it will produce in your location, and what time you install it before 2030. For more information in this regard, you can get in touch with one of our solar installers. After an on-site visit and consultation, we can walk you through the costs of the installation, STCs you can earn, and more.
3. Sell excess energy back to the energy company
When your solar panels generate more electricity during the day, without any use (or any solar batteries) your power generated goes back into the grid. With feed-in tariffs, energy companies will pay you an amount based off what is given back to them. Otherwise, it will add as a credit to help directly deduct the cost of energy that you do end up using. Feed-in tariff prices have reduced recently, so you may not gain as much via tariffs as you would have before. In the case you want to get the highest ROI on your investment, you might also want to consider installing a solar battery, to use the solar you generate on cloudy days and at night.
4. Providing more local jobs
Last year in 2020, the renewable energy industry employed more than 25,000 Australians into work. The solar industry empowers the Australian workforce, particularly as the local workers behind solar installations can’t be outsourced. Solar installers are supported by the Clean Energy Council and Government Grants. It also provides a safer place and method of work compared to what fossil fuel energy workers face. Which often has meant a lot of time in the mines or handling heavy machinery.
5. Fast becoming the most competitive solution
Renewable energy systems worldwide have grown in demand, meaning that solar panel systems have greatly lowered in cost compared to where they once were before. The advancement of solar battery technology also holds wide sweeping implications for how solar may overtake coal in future. With the power that solar has now been able to generate, for some areas, it’s become the most cost-efficient solution to supply power.
6. Solar provides a source of renewable energy
Solar is a renewable energy source, which means it’s a natural resource that is constantly replenished. We won’t ever have to worry about running out, as is the case with fossil fuels. Also unlike coal, solar energy is clean.
7. Reduced carbon footprint
With increased renewable energy systems, like solar panels, there’s less carbon that’s put into the atmosphere. By owning your own solar panels, your household can also contribute to the hope of a cleaner, greener planet.
8. No Water Pollution
When fossil fuels are extracted for energy plants, nearby water sources such as rivers and lakes can be affected from the disruption. As more carbon enters the oceans, it can also greatly affect sea life. Solar energy causes no pollution to water bodies. By moving from fossil fuels to solar, our water life can greatly benefit too from less disruption and carbon in the environment.
9. Gets Australia closer to our Renewable Energy Target
By 2030, Australia hopes to reach an additional 33,000GW of electricity generated through renewables. Every residential or commercial installation of solar energy systems pushes the country forward to make good on the international Paris Climate Agreement, made with almost every country around the globe. By committing to the agreement, Australia can help hold other countries to account for clean energy changes, to create a cleaner energy future together.
10. Clean Energy is the Future
Solar energy companies have contributed a lot to the amount of renewable energy generated electricity in Australia. IRENA, the International Renewable Energy Agency, expects renewables to overtake coal as the number one electricity producer by 2025. By getting the assistance of a solar energy company now, you can get ahead in both savings and where the future of energy is heading.