Australia has been blessed with the highest solar radiation per square meter than in any parts of the world but is currently lagging behind gloomier European countries in maximising and capitalising on solar power. According to the Clean Energy Council the country’s renewable energy target by 2020 will only be possible if the country will start to capitalise on large scale solar power projects to support home and small scale businesses’ virtual power stations.

The CEC has identified four key elements why Australia should start embracing large scale solar projects…

Natural Solar Resources

A report released by the CEC revealed that Australia’s advantage on the global solar industry would still be its abundance of natural resources. Not only that that the country has the one of the longest sun hours per day Australia also has high solar intensity rating suited for large scale solar PV projects.

Although it has been recorded that solar power is most likely to thrive in countries surrounding the Red Sea area solar panels in Australia still offers great potentials thanks to its close proximity to the equator and sound climate patterns.

Outstanding Researchers and Institutions

Australia is home to some of the best scientist and researchers in the solar field who made history and revolutionised the technology. Since 80’s the country is leading the research on solar panels and up to now institutions like the University of Queensland, University of New South Wales, Australian national University, National Solar Energy Centre and Australian Solar Institute continue to make milestones in improving the technology prioritising economic and environmental benefits.

The federal government of Australia opted to fund more renewable energy research through revenues of the carbon tax to continue developing the technology to cope with the country’s increasing demands.

Australian Market

Even the most revolutionary technology will be put to waste without a projected market, energy intensive industries and sectors in the country will provide the mainstream of solar market which will enable a cycle of demand and supply.

The solar PV industry and market will not only help the country in achieving renewable energy target but also provide opportunities for job growth. Integrating solar power in various sectors will create 10 times more jobs compared to fossil fuels and with an annual increase of 5.7% in solar energy usage (according to the Australian Bureau of Agricultural and Resource Economics) more jobs will soon follow.

Electricity Grids

Both ROAM consulting and Garnaut’s Climate Change report revealed that Australia’s energy price hikes are primarily because of constant upgrades and expensive maintenance for electricity grids accounting to 40% to 50% of a typical household bill increase. Transmission network investment over the current five year regulatory period is forecast at over $7 billion and $32 billion for distribution networks which has dramatically increased since 2006.

By strategically locating large scale solar power projects enormous savings can be achieved through reduced network upgrade and maintenance cost. Technology will also allow massive renewable energy farms to capitalise on what is currently present on electricity grids and no upgrades will be required during integration.

However, these four key elements should still be supported by a clear policy that will guide it throughout the transition to low carbon economy and consistent pipeline of projects are also necessary to make the RET a reality.