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Solar PV 'reaching grid parity'

10th Sep 2012

Solar energy is experiencing a period of rapid price declines and one firm has stated that grid parity is within touching distance.

And what does grid parity mean exactly? Well, it means it is close to becoming the same cost for generating electricity through solar PV as it is to buy it directly from the grid.

Renewables company CBD Energy claims the time has almost come, resulting in the industry showing signs of normalising.

CBD confirmed its revenues had slumped 67 per cent in the latest financial year, with 70 per cent of its earnings coming from solar panel installations, which had been adversely affected by retractions of government subsidies. But this is about to change.

The sector is "approaching or has reached grid parity in most areas of Australia. This is a very important milestone in attracting new customers without the need to be reliant on subsidies or feed-in-tariffs", the organisation told the Sydney Morning Herald.

Electricity direct from the grid is already flat or falling, with demand dropping as consumers flock to solar PV due to price rises.

In July, market research company IBISWorld said solar panels were becoming increasingly popular because of the current political and social landscape.

And this seems to be true, with Australia topping the world rankings for 2011 when it came to the number of installations completed.

Posted by Mike Peacock

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