The Rooftop PV Information Paper by Australian Energy Market Operator AEMO published today provided great indications of the potential of rooftop solar power installations while
acknowledges that it is a significant source of energy. The report is the first formal recognition by an Australian energy authority of the potential of rooftop solar.
Forecasts by AEMO mentioned that up to 12,000 megawatts of solar photovoltaics could be installed in Australian rooftops by 2031, which would account for 10 per cent of the
electricity produced in the country. The rationale behind the figures was that by 2020, consumers could be getting a 3-4 year payback on solar PV. The main drivers to determine economic payback were retail electricity prices, the cost of the rooftop solar power system, and government incentives. Other factors that were taken into account were reduced greenhouse gases, improved energy ratings of commercial buildings and image enhancement.
The report is also significant in showing how energy is consumed in the household, which gives the average family a solution to the rising electricity costs, changing cost of living as well as adopting clean energy. Even as government rebates for the solar market reduces, AEMO still expects a steady growth in rooftop solar power of 320 megawatts a year until 2017.
For more information, refer to: http://www.aemo.com.au/en/~/media/Files/Other/forecasting/Rooftop_PV_Information_Paper.ashx