Australian solar set to bounce back to ‘record’ 1.96GWac roll-out in 2020

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Image credit Suntech

Yet another bright forecast has emerged for renewable energy prospects in Australia this year, with record installations now being predicted after a slump in the second half of 2019.

Consultants at Rystad Energy said this week the country could commission up to 3.6GWac of solar and wind capacity by the end of 2020, a “new record” after 2019’s figure of 2.6Wac.

The 3.6GWac forecast for 2020 – split between PV (1.96GWac) and wind (1.57GWac) – would mark the reversal of what Rystad described as a “quiet spell” towards late 2019.

According to the firm, last year’s third and fourth quarter witnessed the lowest volumes of ready-to-build solar and wind projects Australia has seen in any quarter over the past three years.

This year, however, Rystad expects a comeback. Particularly in H2 2020, green energy projects backed by PPAs and government auctions are due to enter construction, said Gero Farruggio.

“[Renewable] developers will be shifting to more favourable parts of the grid in Victoria, New South Wales and Queensland,” added Farruggio, who is Rystad’s Head of Australia.

New South Wales, continued senior analyst David Dixon, is the lead state given that it hosts alone more than half of the green energy pipeline nearing construction Australia-wide.

The optimism around Australia’s utility-scale renewable prospects in 2020 emerges just days after a strong year was also predicted for the small-scale solar segment.

Sunwiz, a firm based near Melbourne, said its findings of a “record” 2.13GW of sub-100kW PV systems rolled out in 2019 alone “boded well” for the segment in 2020.

The upbeat green energy forecasts contrast with Australia’s environmental challenges in the final leg of 2019, with deadly bushfires fueling a controversy around the country’s climate policies.

Warnings around renewable funding drops are piling up from various corners. According to recent BloombergNEF stats, Australia’s investment in green energy dropped 40% to US$5.6 billion in 2019.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

May 20, 2022
Independent power producer (IPP) RES has announced a collaboration with power purchase agreement (PPA) provider Alight to develop new solar projects in central and south Sweden. 
PV Tech Premium
May 19, 2022
PV Tech speaks to Qcells CEO Justin Lee about the manufacturer's recent solar manufacturing capacity expansion, its use of TOPCon as a 'stepping stone' to future cell technologies and its new clean energy strategy.
May 16, 2022
Solar PV and other renewables account for more than a third of electricity generation in Australia’s National Energy Market (NEM) in Q1 2022, coal’s share slipping by five percentage points year-on-year.
May 16, 2022
The world added record amounts of renewable energy last year with 295GW of capacity deployed, up 6% year-on-year, despite supply chain constraints, project delays and high commodity prices, according to the International Energy Agency (IEA), which also expects nearly 320GW to be deployed this year.  
May 13, 2022
Grant funding has been awarded to a project in Australia that will explore the potential revenue streams and consumer interest in used solar PV panels.
May 13, 2022
Welcome back to PV Tech's live coverage of the third and final day of Intersolar Europe 2022. This story will be updated throughout the day, so be sure to refresh for the latest news, product launches and insight from the exhibition

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
October 4, 2022
New York, USA