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Is solar power becoming an excellent alternate energy source?

Team Veye | 21 Mar 2022

Is solar power becoming an excellent alternate energy source?

Solar power is the key to a clean energy future. Every day, the sun gives off far more energy than we need to power everything on earth.

Solar energy is a growing segment of our power generation mix, and it will play an important role in the future of energy production. Producing power with solar panels has two big advantages over fossil fuels: it is both renewable and cost-effective.

Solar energy is one of the cleanest and most abundant renewable resources, meaning it won’t ever run out or be in short supply. NASA scientists say the sun is about halfway through its lifetime, which means that we have about 4.5 billion years to take advantage of solar energy. It is also labelled as green energy as it has no harmful environmental side effects associated with its use.

As of 2020, there were at least 37 countries around the world with a cumulative PV capacity of more than one gigawatt.

What does Solar Energy holds for Australia?

Australia is often referred to as The Lucky Country, and this is especially true for solar. Australia shares the top spot with Africa as the world’s sunniest continent. It is also the second sunniest country in the OECD. Australia's solar radiation is the highest in the world.

In 2020, more than 21% of Australian households had rooftop solar, with more than 2.4 million systems installed. Small-scale solar (systems up to 100 kW) was responsible for 23.5 per cent of Australia's clean energy generation and produced 6.5 per cent of the country's total electricity.

Australia has the highest penetration of solar globally on a per thousand household basis. Clean Energy Regulator data shows that more than 2.68 million rooftop solar power systems had been installed in Australia in total, as of 31 December 2020; that means one in four homes had solar panels on their roof.

Certainly, this trend is not going to slow down any time soon. The rooftop solar potential for Australia is really astonishing. As of June 2019, Australia was using just 5% of its potential. If its full potential was utilised, it could produce 25% more electricity through rooftop solar than the current total consumption from all sources.

Solar power becoming an excellent alternate energy source gets accentuated further due to a couple of facts. Solar panels today cost just a fraction of what they were a decade ago with the much improved quality, in addition to many installers offering a 25-year warranty and the Australian government’s Small-Scale Renewable Energy Scheme providing generous rebates to homeowners installing rooftop solar.

Disclaimer

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