Australia is one of the main countries showing its trust in solar and solar energy is becoming one of the prominent solutions for electricity generation. 

As per reports, it was found that more than 50 countries have opted for 10% of their power from wind and solar. Here, Australia has shown optimum support for solar power than any other country just after the Netherlands. 

It was also noted that the share price of solar and wind in Australia has been raised from 13% to 22%, which is a significant growth scenario. 

Now Solar and Wind are becoming the new investment option and investors are showing the optimum level of interest in it. 

Well, this kind of investment is not exciting only for the people in this industry but it is also playing a crucial role for other business communities. 

Growth of the Solar Industry in Australia

Well, if we talk about the demand for solar in Australia then the industry has faced a rapid growth of 46.5% annually since 2016. The total revenue has already crossed $400 million with an average profit of $50 million every year. 

In the next five years, it is predicted that the demand for solar generation will be increased twice now. The utilization of solar energy generation capacity was 450 GWh in 2016 and it has been increased to 5500 GWh by 2022. 

The demand for PC installation has increased since 2018 and as the demand is increasing, companies have increased their production process and try to cut the cost. 

Grid-connected distributed shares have the largest share of solar PV installation. Well, these are the rooftop PV installation used in residential, commercial, and industrial sectors. 

The growth of Solar was recognized in 2018 in both rooftop distributed solar and utility-scale solar. The figure has crossed 2,00,000 in just 2018 and has also expected higher demand in 2019. 

Potential

Today, Australia has a higher potential of contributing towards solar energy at a large scale. It remains quite beneficial for Australia because its dry climate and latitude have the potential for solar energy production 

 Well, North and Western Australia has a higher potential for PV installation. After knowing that Australia has a higher potential for solar uptake, they are using just 5% of the total capacity for rooftop solar till 2019.

M&A for Solar Energy in Australia

The acquisition of AGL with Tilt Renewable has given a strong indicator to acknowledge the current market sentiments and the appetite for renewable energy resources. 

Before the deal got finalized, several offers were submitted to secure Tilt because there was no lack of competition. There were some indications for the small to medium size businesses to understand the market conditions and be aware of the happenings to bring out most of these conditions. 

Many transactions for completed that year and now it is interesting to watch out for the conditions for the upcoming years. Interestingly, some solar energy dealers have started exiting from the Australian Solar Farms portfolio for sale. 

It will be a challenging situation for everyone to notice how these changes are working in these market sentiments.

So, if you are also looking to show some relevance on solar power for residential or commercial purposes then you can go with First Choice Solar Sunshine Coast for the best and most affordable solution. 

The whole sector of solar energy is driven by the federal renewable energy target, which is also supported by state renewable energy goals. Well, they are focused on achieving some target of zero net emission by 2050.

To attain these targets, LGCs and some other schemes are also providing incentives to businesses focusing on those who have their target emission goals. 

In the same way, the wholesalers and retailers will have their eyes on its price and it will become the biggest attraction for consumers. 

Apart from all these things, the Solar Flagship Programs have Adie the amount of around $1.6 billion for solar energy over six years. 

As the continuous rise of the solar panel industry became the biggest highlight for everyone. Australia kept its position at the top and gave investors an option to dig a bit deeper to discover profits for them.