Published on : Feb 24, 2015
One of Australia’s biggest electricity retail giant, Origin Energy Ltd. has plans of expanding the solar business, at a time when there is expected to be a rise in installations all through 2030 coupled with plunging costs. The company has plans of undertaking several investments which are similar to the 3 megawatt capacitated project of rooftop solar in the area of South Australia.
The system that will be applied in the rooftop project will essentially be owned by Origin Energy Ltd. and it will be in partnership with ZEN Energy Systems. As per company officials, it is expected that the business of solar rooftops will expand in the near future. This will throw light on the fact that, companies such as Origin Energy Ltd. will be resorting to the business of solar panels, their installation, and retailing of the same in a massive way.
It is anticipated that by 2030, the solar installations of small scale in Australia will increase by close to 20 Gigawatt, and this as a result will call for about US$31 billion in terms of investment. As per the Climate Council, which is basically an NGO, Australia by far is the sunniest continent in the entire world.
Latest trends in forecasts state that by 2030, the households sector in Australia will have the capacity to pay back the solar costs within less than four years time, as against the current period of seven years. Origin Energy Ltd. considers governmental support to be a significant market driver. Also, experts have expressed that the main factor that makes solar so attractive to consumers is the fact that the subsidy level is quite substantial and gainful.