The Australian’s annual forecast for solar and wind is a lie
Posted October 14, 2018 06:05:58A number of articles have been published in recent weeks suggesting that Australia’s solar market is growing at an annual rate of around 7 per cent and that wind is surging.
The latest figures from the Australian Renewable Energy Agency show that solar PV capacity has grown by almost 50 per cent since the end of 2017, while wind capacity has been flat or down by almost 15 per cent.
It is worth noting that solar is a technology with very limited uptake in Australia, meaning that the solar industry will not see significant gains in 2020.
It has also been pointed out that the PV industry is not particularly well suited to forecasting the cost of wind, so these forecasts may not be entirely accurate.
But a closer look at these figures and the underlying economics of solar and the cost to consumers, as well as the economic impact of these policies, shows that there is a very real possibility that Australia is in for a major energy shock, especially if the renewable energy target is scrapped.
A lot of the media reports have implied that wind and solar will become cheaper over time, but that is simply not true.
Wind energy has already been shown to have a cost-effective and reliable replacement for fossil fuels in many cases, which is why the Coalition is already planning to roll out a new carbon price by 2020.
Solar and wind will both face significant increases in their cost of production as they become cheaper, and even cheaper as the technology matures.
But if the 2020 deadline is pushed back, the cost is likely to go up again, and this will be an even bigger financial drag on the renewable industry than the initial fall in wind prices in the mid-2020s.
There is no reason for consumers to be investing in solar panels and wind turbines in the same year as the solar price rises.
The real cost to Australia is to be found in the energy it produces.
The cheapest way to produce electricity is to build a grid, which requires massive amounts of infrastructure to be constructed.
This grid is often called the grid of the future.
Renewable energy is a key component of this infrastructure.
As solar and other renewable energy technologies become more cost-competitive, and prices become lower, the amount of energy that will be produced will drop.
However, the impact of the 2020 election on solar and renewable energy will be even greater than previously thought.
In 2020, renewable energy could be used to power around 20 per cent of the nation’s electricity needs, according to a new study commissioned by the Australian Energy Market Operator (AEMO).
This means that in a world where the wind is blowing, the sun is shining, and the weather is pleasant, renewable power could be an important source of electricity in the future, and could play a major role in Australia’s transition to a low-carbon energy system.
If the 2020 federal election result is a turning point for the renewable sector, it is highly likely that Australia will see a significant drop in solar and solar PV output, as they lose much of their market share to fossil fuels.
For this reason, renewable projects will be a key part of any new energy strategy that Australia adopts.
To achieve a low carbon energy system, it will be essential that all sectors of the economy work together.
All Australians need to realise that renewable energy is not just for the wealthy, it can be the very future of our country.
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