1. Solar In Australian Homes
The Renewable Energy Target (RET) scheme, supported by all political parties, has been critical to bringing solar to Australian families
Almost 1.5 million Australian households have Solar Photovoltaic (PV) and Solar Water Heater (SWH) systems as a result of the RET.
Summary PV Installations
Total Installations 665,215 for which certificates have been registered (2001 to end March 2012)
Installed Capacity 1,431 MW Installed for these systems
Summary SWH and HP Installations
SWH Systems 574,503
Air Sourced Heat Pumps 149,420
1 in 5 Australian households, that could have PV/SWH installed (i.e. have a roof available), have installed a solar system (20%)
Housing Type Number of Homes (ABS) PV Penetration rate % SWH Penetration rate %
Separate or Semi-Detached, owner occupied 4.7 million 14.2% 15.4%
Separate or Semi-Detached, all 6.4 million 10.4% 11.3%
Total Australian Households 7.5 million 8.9% 9.7%
NB: A small number of households will have both SWH and PV
2. Renewable Energy schemes do not contribute greatly to major price increases in electricity. According to the Australian Energy Market Commission (AEMC), electricity prices for Australian households are predicted to rise 30% over the next two years .
In the AEMC’s analysis, network costs (transmission and distribution) are expected to contribute 40% to the increase in residential electricity prices in coming years. Wholesale electricity costs, (including the price on carbon) are expected to contribute 40% to the rise in prices. These costs make up 80% of the total projected increase in prices.
Renewable Energy schemes are projected to comprise only 3% of residential electricity price increases across Australia.
3. Renewable Energy Target has been incredibly successful; Solar PV costs have fallen dramatically
The affordability of solar technologies has improved dramatically. The installed cost of a PV system has dropped by 75% over last 5 years to an average of $3.25 per watt this year. The cost competitiveness of Solar is due, in part, to support provided by the RET.