Australia’s rooftop solar homes and businesses will not be just be generating up to half of the country’s electricity needs in the future, but can play an important role in meeting the peak demand and keeping the grid stable as reported by Solar Choice.
Kobad Bhavnagri, senior analyst at Bloomberg New Energy Finance said that the country’s energy system is set for a radical change at least from the current group of policy makers and regulators. He also said that by the year 2040, renewable energy will comprise of 70% of all electricity demand. This reflects a worldwide trend that is driven by technology and economics, with green policy just a stepping stone along the way. Bhavnagri said that there will be too much risk to the market, to reputation and the environment for any new coal-fired power stations to be built. He also said that wind and solar will be cheaper than petrol, even with the low oil prices. He had suggested that forecast solar power prices will be wound back significantly in an updated technology cost report that had been released by the end of May.
Bhavnagri said that there will be too much risk to the market, to reputation and the environment for any new coal-fired power stations to be built. He also said that wind and solar will be cheaper than petrol, even with the low oil prices. He had suggested that forecast solar power prices will be wound back significantly in an updated technology cost report that had been released by the end of May.
He stated that the biggest switch will happen behind the meter, in homes and businesses where up to 50% of all electricity bill will be generated behind the meter simply because the consumer or end user technologies will provide a cost of supply below that of the traditional grid. This will give consumers more choices and will require new sets of services.
By the year 2040, the combined power of storage and solar could be providing the bulk of the peak demand needs especially in winter.