A new study is showing that the Australian solar PV market could reach as much as 10 gigawatts of capacity by 2017, a pretty significant increase from the currentÂ 2.5GWÂ in just 4 years.
The more interesting part of the research conducted by market analysts Sunwiz and Solar Business Services is that it looks as if parts of Australia could reach â€œsaturationâ€ in the residential solar market. Some areas are running on 20-35% solar, and the report sees 50-75% to be â€œentirely probable.â€ Overall, the average penetration level of the owner-occupied sector is currently around 10%, and the more difficult portion of the residential sector to grab will likely be the rental market and homes in â€œdifficultâ€ locations.
â€œThe entire electricity market is at the cusp of a radical evolution which will change the fundamental dynamics of energy generation, ownership, profit structure, competition and pricing â€“ and the role of solar is highly significant,â€ the authors said in the report. â€œThis issue could be a major stumbling block â€“ or opportunity â€“ for our market, echoing International trends and issues.â€
This is all comparable with the market predictions for other countries, which are experiencing a similar situation as Australia in regard to winding back tariffs. The good news is that clean energy markets are starting to thrive without tariffs, paving the path to a much more sustainable industry (in more ways than one).
Another report by NPD SolarBuzz says that Australia, Japan, Italy, Germany, and the UK will account for Â¾ of the worldâ€™s residential PV installations in 2013. Weâ€™ll take it!
Image CC licensed byÂ Andreas Demmelbauer