April 15 (Renewables Now) - The rooftop solar sector in Australia is on track to add a record 2 GW of capacity this year as the technology becomes more widespread and financially accessible.
According to figures by research and advisory firm Green Energy Market, released on Monday, the country has brought online more than 480 MW of small-scale rooftop solar systems in the first quarter of 2019, representing a 46% year-on-year increase. This is also two-and-a-half times more than the average first-quarter installs in the past four years. Capacity additions have been rising nationwide and, if the same pace is kept by end-2022, rooftop solar is set to provide more generation than will be needed to compensate for the closure of the Liddell coal power plant in New South Wales, Green Energy Market said.
The 480 MW installed in the first quarter will deliver over AUD 850 million (USD 609.3m/EUR 538.5m) in power bill savings over the next 10 years, based on current electricity prices. Installations are growing, led by Victoria, Queensland and New South Wales, and will most likely top 2 GW in 2019.
(AUD 1.0 = USD 0.717/EUR 0.634)