Australia to Invest Big Money in Solar Projects over Next 10 Years

Australian policies to encourage the development of renewable energy projects will drive at least $36 billion of investment by 2020, according to Bloomberg New Energy Finance forecasts.

About $28 billion will be spent to build large utility- scale power projects such as wind farms, while a further $8 billion will be invested by households and businesses in smaller rooftop solar systems, according to a Bloomberg New Energy Finance report issued today.

Australia has set a target of generating 20 percent of its electricity from renewable energy by 2020 and is proceeding with a $1.5 billion funding program to support solar projects. Prime Minister Julia Gillard has said the government wants to set a price on carbon emissions starting in July 2012 in preparation for a trading system to begin as early as 2015.

“Strong levels of investment will continue, thanks to the national targets and the rapidly falling costs of clean energy,” Seb Henbest, who leads Bloomberg New Energy Finance's Sydney-based research team, said in a statement.

BP Plc, AGL Energy Ltd. and CLP Holdings Ltd.'s unit TRUenergy Holdings Pty are vying for government solar grants to develop projects using photovoltaic panels to turn sunlight into power, while a joint proposal from Suntech Power Holdings Co. and Infigen Energy is another of the shortlisted ventures.

While renewable energy investment in Australia is expected to fall to $3 billion in 2011 from more than $4 billion in 2010, it will rise to $4 billion in 2012 and stay higher than that for most of the decade, Bloomberg New Energy Finance said.

The projected investment is equal to the $36 billion needed to build Australia's national broadband network, intended to extend fiber-optic cable to 93 per cent of the country's homes, it said.

Source:  Bloomberg

Solar Is Booming in Australia

Australia will be the biggest 'growth' market over the next few years. Over 80 MW of PV were installed in Australia in 2009, thats 360% more than 2008, and then Australia easily reached 350 MW by end 2010, thats another growth in excess of 360%. in 2011 it is likely to grow more than 50.0% in terms of installed capacity additions.

With the Australian dollar and Government incentives, programs and focus for renewable energy, Australia has huge potential. 


posted by Alec Percy

Flood affected solar power systems a potential electric shock risk

Australia, January 12 - Residents in flooded areas have been warned to be especially cautious around solar panel installations that have been inundated. National solar solutions provider Energy Matters has extended an offer of assistance to owners of flood affected solar power systems to help ensure their safety.

Master Electricians Australia Chief Executive Malcolm Richards yesterday stated solar panels could continue to generate electricity during flood events - even if mains electricity had been cut and even if the panels have been switched off at the switchboard.

The Clean Energy Council (CEC) also warned people not to attempt to operate a solar power system that has been affected by floods. The CEC states householders should not attempt to switch off their solar power system if any of the components are covered in water or if parts of the system are still wet.

In regard to systems that have been inundated, the CEC advises people should not attempt to operate any switches after the waters recede. Residual moisture from the floodwaters may have caused a solar power system to become live, even if mains electricity is still out in an area.

The CEC has produced a basic safety bulletin to provide information that can be downloaded here (PDF).

Water that may have entered the inverter and/or isolator enclosures will prevent safe switching of the solar array and may result in fire, a chance of burns from hot water, or electric shock.

Energy Matters is inviting concerned householders with solar power systems affected by flooding to call the company on 1300 727 151 for advice..

Energy Matters says systems it has installed feature roof top isolators, allowing a solar power system to be more easily and safely shut down compared to systems that only have one isolator next to the inverter, which are more likely to be submerged.