According to David Parker, Clean Energy Regulator chair, Australia is transitioning towards a decarbonised future, and renewable energy sources are a pivotal component of this journey. In the future, Australian households are likely to have solar panels, batteries, and air source heat pumps, and electric vehicles will become more common.
The average house will have power circuits upgraded from single-phase to three-phase power supplies, and all these systems will be integrated using smart technology, software and grid connections.
While already some businesses and households are early adopters of this, eventually, it will become the standard. Industry players who view this shift in behaviour as a broader trend rather than isolated opportunities are more likely to thrive.
The Quarterly Carbon Market Report (QCMR) for September 2022 revealed a welcome increase in the installation of rooftop solar panels. Approximately 729MW of small-scale solar capacity was installed during the quarter, almost matching the record figures achieved in the third quarter of 2021. This surge represents a significant improvement compared to the slower progress during the first half of 2022, which was impacted by the renovation slowdown caused by the COVID-19 pandemic.
Australia’s love for solar is evident as we continue to lead the world in its adoption. We have the highest solar coverage globally, with approximately 3.3 million solar systems installed as of November 2022. Although one in three eligible households have solar systems, there is still a long way to go before saturation is reached and in the commercial space as well.
Last year, more solar systems were installed with batteries than in previous years, with data suggesting 18 per cent of solar systems sold in June included battery storage. No doubt, rooftop solar uptake will also strengthen into 2023.
Major corporations, including Woolworths, Coles, Bunnings, and Ikea, are making significant strides in the solar installation sector. In early 2022, Woolworths announced its 150th solar installation at one of its supermarkets, while Coles has set a goal of achieving total renewable energy usage by the end of June 2025. These large companies have the potential to lead Australia towards meeting the 2030 and 2050 emissions targets set by the government while also promoting the adoption of cleaner energy sources.