The Clean Energy Council has unveiled its bi-annual Rooftop Solar and Storage Report for January to June 2024, indicating that a remarkable 1.3GW of rooftop solar photovoltaic (PV) capacity was installed during this six-month period.
Amidst favourable winter conditions, the contribution of rooftop solar to Australia’s overall energy mix rose to 11.3 per cent during the first half of 2024. New South Wales has also attained a significant milestone, becoming the second state to surpass one million rooftop PV installations, following Queensland’s achievement in 2023.
Shifting Landscape of Solar Adoption
According to Con Hristodoulidis, Co-Chief Policy and Impact Officer of the Clean Energy Council, “Australian consumers are at the forefront of rooftop solar adoption globally.” He noted that for many homeowners and small businesses, investing in rooftop solar has become commonplace. With average payback periods of just three to four years, it is now seen as an effective strategy to alleviate financial pressure on families.
Battery Storage on the Rise
The report, produced with insights from solar consultancy SunWiz, highlights a significant uptake of home battery systems, with nearly 30,000 units sold in the first half of this year. However, the Clean Energy Council warns that battery adoption still falls short of what is necessary according to the Australian Energy Market Operator’s 2024 Integrated System Plan, which aims for an 82 per cent renewable energy target by 2030.
Hristodoulidis emphasised the importance of home batteries, stating, “Over 3.7 million residences and small enterprises now utilise solar panels, which allow for daytime energy savings.” He pointed out that home batteries are crucial for optimising the benefits of solar energy when the sun is not shining, thus effectively reducing household energy expenses.
Potential for Increased Battery Installations
The Clean Energy Council’s ‘It’s Time to Back Batteries’ campaign indicates that a national incentive scheme could potentially lead to an extra 410,000 battery installations in homes and small businesses by 2050. Households using non-orchestrated batteries are projected to save between $900 and $1,000 annually, while those with orchestrated batteries could see savings of up to $1,500 per year through energy trading with the grid. Even homes without solar panels or batteries could benefit from reduced energy costs, as an increase in home batteries contributes positively to the overall energy system.
Calls for Incentives to Support Solar Growth
“There is an urgent need for incentives for home batteries to fully leverage Australia’s exceptional rooftop solar capabilities,” asserted Hristodoulidis. He added that such measures could stimulate economic activity in a sluggish economy by providing support for thousands of Australian installers and businesses in the energy sector while concurrently lowering energy costs for consumers nationwide.
Key Insights from the Rooftop Solar and Storage H1 2024 Report
Notable statistics from the report include projections that rooftop solar PV installations are likely to exceed a total of 25GW installed capacity in Australia by the end of 2024. For context, combined black and brown coal generation reached 21.3GW of installed capacity in the financial year 2023–24.
In the first half of 2024, rooftop PV accounted for 11.3 per cent, equating to 13,479GWh of Australia’s total energy generation. New South Wales has also set a record with 454MW of new rooftop solar systems installed, marking the highest bi-annual capacity of any state, solidifying its position as the second state to reach one million total rooftop PV installations.
Additionally, the report notes that approximately 30,000 battery units were sold nationwide during the first half of 2024, following 57,000 behind-the-meter batteries installed in 2023. At present, there are 7,250 approved rooftop solar, inverter, and storage products across Australia, reflecting a 12 per cent increase compared to the previous report.