Solar power giving global renewables a helping hand

28th Jun 2013

It’s been a tumultuous few weeks for Australian solar power, with a veritable rollercoaster of highs and lows.

On the one hand, we’ve seen the country’s largest concentrated photovoltaic plant completed in Victoria, while on the other the ACT decided to reduce its rebate for solar power.

Despite this, new research appears to show that solar power remains on a steady course globally, experiencing solid growth and contributing to the renewables cause worldwide.

The International Energy Agency (IEA) Medium-Term Renewable Energy Market Report (MTRMR) revealed that sustainable technology is now the fastest-growing power-generation industry and will contribute nearly 25 per cent of global output within five years.

And solar is playing its part, with the IEA claiming it is now becoming increasingly cost-competitive with traditional power sources.

“Solar is attractive in markets with high peak prices for electricity, for instance, those resulting from oil-fired generation,” the report said.

“Decentralised solar photovoltaic generation costs can be lower than retail electricity prices in a number of countries.”

According to the agency, renewables overall will experience 40 per cent growth by 2018, despite a difficult economic environment.

And while hydropower is spearheading this due to its cost-competiveness, sources such as solar, wind, geothermal and bioenergy are expected to double their total contribution to global markets up to eight per cent within five years.

IEA executive director Maria van der Hoeven stated: “As their costs continue to fall, renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation.”

Van der Hoeven said this is “good news” for the global energy market, paving the way to a cleaner and more diversified system.

However, she warned against countries resting on their laurels – especially governments of OECD nations, who she claimed must not get complacent and continue on the path of environmentally friendly solutions.

Posted by Mike Peacock

All solar power news categories

Government Rebate & Regulations
Solar Power & Technology


More Solar Power & Technology

Australia to be a part of huge Asian renewable energy growth
SunPower steps up to make solar more affordable
Canberra makes strides toward carbon neutrality
GTM puts solar's massive growth in perspective
Examining Australia's falling solar PV rooftop prices
Australia's shift toward renewable energy picks up the pace
Australia shines at solar decathlon
University of Queensland tapped as lead researcher on massive solar project
100 per cent renewable energy is possible in 10 years, environmental group says
Climate Commission releases report on solar progress
Aussie government actually shows spine for solar power
Be gone, skeptics: One million solar installations and counting
Australia embarks on its greatest solar journey ever
Australia looks to solar thermal for commercial success
Solar power helps King Island reach 100% sustainability
Australians 'heavy supporters of solar power'
Mildura solar plant officially unveiled
Solar power trumps other renewables in Australian minds
Sunshine Coast solar farm "fantastic initiative"
Sunshine Coast cashes in on namesake with solar plans
Energy storage 'could maximise solar power utility'
Solar powered family car - a world first?
Code of conduct for solar installers in the works
'Stop punishing households' for solar PV
Australian solar companies 'adjusting well'
Australian mining 'next solar frontier'
"Rooftop revolution" underway across Australia
Global PV market emerging from sluggish period
Royalla solar farm receives final approval
Leadership challenge a "debacle" for Australian solar power
Solar power giving global renewables a helping hand
Australia's largest CPV solar power plant up and running
Renewable energy misinformation "staggering"
CEC: Don't underestimate consumer desire for solar
Setting energy efficient examples on TV
Solar PV brightening up household bills
World's largest solar powered boat on the move
Climate change is heating up
The global solar power shift
New solar tech win for NSW
Industry orgs praise City of Sydney solar efforts
Clean Energy Council supports Regional Renewables scheme
Asian nations emerging as PV leaders
Solar PV demand continues to grow
Regional areas of Australia to receive more renewables
Australia's significant renewable energy growth
Solar panel reprieve for Queensland
New funding for solar research
Find love with sustainable speed dating
New Victorian solar power deal
 To get your quotes, please enter your postcode: