What Is The Future Of Energy In Australia?

What is the future of energy in Australia? It is one of those questions everyone is asking these days. With constantly rising energy prices and the mayhem brought on by this immense increase in prices, consumers and businesses are concerned about what lies in their energy future. This is why they have been turning to renewable energy sources such as solar power. If you want to learn more about what the is the future of energy in Australia, keep reading our blog article!

What Does The Future Of Energy Look Like In Australia?

One thing that is absolutely clear is that the future of energy in Australia is renewable energy including solar and wind power. The government in Queensland has recently announced a renewable energy target of 70% by 2032 and 80% by 2035. These targets include plans for 11.5 GW of rooftop solar along with 9 GW of battery storage. 

Currently, the renewable energy percentage in Queensland stands at around 21% and is on track to cross 80% by 2035. All the other regions in the country have also set ambitious targets to switch to renewable energy in the next 10 to 15 years. 

There are also plans to make Australia a green hydrogen hub by utilising solar and wind power for the production of hydrogen. In short, the current bumps in the electricity prices for retail consumers are, most likely, just hiccups as most of the country transitions to a majority of renewable power. 

As a consumer, you also have the opportunity to contribute towards this renewable energy target by opting for solar panels. It will not only save you a lot of money but you will eventually start earning money from your investment after the payback period which is generally 4 to 6 years. 

Don’t forget that solar panels are rated to last at least 25 years. The service life means that they will retain at least 80% of their electricity generation capacity for 25 years and they won’t suddenly shut off after 25 years though their efficiency will go down. 

Why You Should Make The Switch To Solar

If you still haven’t made up your mind to switch to solar, here are a few compelling reasons for you to make the switch now:

1). Relatively Inexpensive

One of the main reasons most Australians are considering investing in rooftop solar is because it’s relatively inexpensive. Generous rebates bring down the initial cost of the installation of solar panels substantially. 

In fact, most Australians can expect to save more than $1000 each year on electricity costs with an investment in a 6.6 kW solar power system. Simply put, you will be able to get your investment back within 4 to 6 years and then, it’s going to be pure profit.

2). Accessible Electricity

If you also invest in solar batteries along with solar panels, you will be able to reduce your dependence on the power grid to a large extent. These solar panels will generate electricity during the daytime which can be stored in the batteries. 

Since most of the electricity consumption in a regular household takes place during the evening hours, the stored energy in the battery can be used to power most appliances. A decent combination of enough solar panels and solar batteries would allow a regular household to reduce their dependence on the mains grid to almost nothing.

3). Install And Forget

Modern-day solar panels are designed to withstand regular wear and tear without any issues for long periods of time. These require minimal maintenance. You only need to clean them occasionally and get a service engineer to take a look at the connections once every year or 2 years. That’s all you need to do in terms of maintenance and your solar panels with keep putting money in your pocket for the next two decades.

Final Thoughts

In summary, the future of energy in Australia is clearly renewable power, and solar power is going to be a large part of it. State and federal governments already offer a slew of incentives for households and businesses to switch to solar power. 

The cost of solar panels has also gone down substantially. It would be a mistake for homeowners to wait any longer to switch to solar power as the incentives get decreased with every passing year and are eventually going to be phased out after 2030.

Contact GCR Electrical Systems Today!

GCR Electrical Systems is the leading provider of solar power installation, repairs and maintenance services in the region. We offer the very best to our customers.

Please contact us today on (07) 4120 7004 or leave an enquiry.