Solar generation beats inflation! Australians are facing a significant challenge with soaring electricity costs, which are not expected to return to pre-pandemic levels until possibly as late as 2030. A report released by the CSIRO indicates that the costs of electricity generation have increased across all energy sources. This increase in technology costs, including the expenses associated with building and maintaining new technology such as coal-fired power stations or solar installations, has risen by an average of 20 percent, which is triple the rate of inflation.
Key points from the report include:
- Solar installations, both rooftop and large-scale PV, saw a 9 percent increase in costs.
- Onshore wind farms experienced a significant increase of 35 percent in costs.
- The costs associated with coal technologies, which still supply around 75 percent of Australia’s electricity market, rose by 22 to 24 percent.
The rising prices are attributed to various factors including global supply chain constraints due to the COVID-19 pandemic shutdowns, exacerbated by geopolitical events such as Russia’s invasion of Ukraine, which disrupted global supplies of gas. Additionally, the rapid transition from fossil fuels to renewables has increased demand for raw materials, further pushing up prices.
According to CSIRO modeling, if current government policies persist, Australia’s electricity prices may not return to pre-pandemic levels until 2027. However, if new policies accelerate the energy transition, the timeline for price normalization could extend out to 2030. Being self sufficient by installing your own solar energy generation system would help you to beat inflation and save you money.
But! Have no fear and look no further than Australia Solar, your trusted local partner for all your solar energy needs. Beat the rising inflation electricity costs and the join the increasing demand for sustainable energy sources. By investing in solar power you will have renewable, reliable energy generation. At Australia Solar, we offer top-quality solar panel installations, tailored to meet your specific requirements and budget.
Our team of experienced professionals is committed to delivering high-performance solar solutions that not only help you save on your electricity bills but also contribute to a greener, more sustainable future. Whether you’re a homeowner, business owner, or industrial facility manager, we have the expertise and resources to design and install efficient solar systems that maximize energy generation and minimize environmental impact. From rooftop solar panels for residential properties to large-scale commercial applications, Australia Solar has you covered.
Contact us today to schedule a consultation or fill out our customised quote form and discover how solar power can benefit your home or business in Perth. Join the renewable energy revolution with Australia Solar and take control of your energy future while reducing your carbon footprint and operating costs. With our reliable solar solutions and exceptional customer service, you can enjoy clean, affordable energy for years to come and join the others who have realised that solar generation beats inflation.