Frost & Sullivan report outlines bright future for ANZ solar PV market

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

According to a report published by Frost & Sullivan, the solar PV markets in both urban and rural areas in Australia and New Zealand (ANZ) are steadily expanding due to volatile oil prices and strong governmental commitments.

Suchitra Sriram, program manager of Frost & Sullivan, says that market trends indicate burgeoning demand owing to strong governmental commitment to the promotion of solar energy and creation of sustainable cities and increasing commitment from the local government means that solar PV systems for rural electrification projects are likely to be driven by active participation of non-governmental organizations, availability of funds from international financial agencies, and the involvement of local communities.

ANZ solar PV systems market earned revenues of US$198.2 million in 2009 and is estimated to reach US$827.8 million by 2016. “Growing environmental consciousness and the urgent need to act against soaring carbon emission levels have forced governments to put forth policies and programs that address this mounting challenge,” says Sriram. As a result, the introduction of the solar cities program, solar credits program, solar flagships programs and the introduction of state-specific feed-in tariff initiatives encompassing solar PV technologies have rapidly encouraged adoption as well as attracted new entrants into the ANZ region.

“The introduction of feed-in tariff is expected to be a big stimulant for on-grid solar PV system installations for both distributed and centralized solar power plants”, continues Sriram. “State-wise solar PV targets too have led to increasing demand for solar PV systems. In many remote locations, solar PV systems are largely promoted along with diesel fired generator sets to satisfy on-site power needs of small communities.”

However, the ANZ region’s strong reliance on coal is a current inhibitor to the growth of solar PV uptake. “In several cases, adoption of expensive solar PV systems becomes only a secondary option as there are several other low-cost distributed power generation technologies that satisfy the on-site power requirements of the end users.”

Solar PV systems market growth is expected to continue to rely on government support until the price reaches grid parity. This includes the government’s introduction of a uniform gross FiT scheme at a national level.

 “In few Australian states and in New Zealand, aggressive measures need to be adopted to increase the overall awareness levels about the long-term benefits of solar PV power systems,” concludes Sriram.

19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.
20 October 2021
The race is on but we need to sprint… With global climate talks fast approaching and time running out to prevent the most disastrous impacts of climate change, now is the time to act. The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens and companies. Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.
10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!
23 November 2021
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 23-25 November at the NEC.There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 

Read Next

October 19, 2021
Funds managed by private equity firm Antin Infrastructure Partners have secured a deal to acquire a majority stake in US solar and storage developer Origis Energy.
October 19, 2021
Lightsource bp has announced its entry into Poland’s solar market through a co-development deal which will see the developer proceed with a 757MWp pipeline in the country.
October 19, 2021
Shortlisted bids in Saudi Arabia’s latest solar tender have jumped significantly on the lowest price recorded in the country’s previous renewables programme, reflecting the hikes in PV equipment costs in recent months.
October 19, 2021
The White House has said renewables are still key to its budget reconciliation bill despite rumours of the investment tax credit (ITC) being modified as opposition to the bill by senators Manchin and Sinema continue
October 19, 2021
Europe's energy crisis can be a boon for renewables deployment on the continent by bolstering business cases, but familiar foes such as grid constraints will still need to be hurdled in the coming years.
October 19, 2021
Solar tracker manufacturer Soltec has signed a framework agreement with renewables developer Acciona Energia to supply trackers over a three-year period.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 19, 2021
Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021