Clean Technica | By: Steve Hanley | January 16, 2018:
High electricity costs make renewable energy more attractive. That’s why Bloomberg thinks Australia is poised to have a renewable energy bonanza. “The payback period for residential solar is now as low as it was in 2012, when super-generous feed-in tariffs and subsidies drove a massive boom in installations,” says Annabel Wilton, an analysts for Bloomberg New Energy Finance in Sydney.
Solar Growth In Australia:
By 2040, up to 45% of Australia’s electrical power is predicted to come from “behind the meter” systems consisting of solar panels and battery storage located on private property.
If that prediction comes true, Australia will lead all other countries in renewable energy production.
“We will see I think a boom over the next decade in battery storage and also solar thermal, we’re starting to see that play out now in South Australia,” says Andrew Stock of Australia’s Climate Council.
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