Natural energy adoption is accelerating within both commercials as well as retail sectors. According to Earth.Org, solar energy will become 35% cheaper in 2024. There is more evidence to back this up. Improvement in technology and economies of scale are the main reasons behind the declining costs of solar energy. Deloitte predicted that in 2022, renewable energy penetration on the grid will increase.
Companies are now adopting solar energy into their businesses because of the declining costs of solar panels. Transmission infrastructure is becoming a key priority, not just for solar power but also for offshore wind. Australia is looking forward to using solar energy as a primary source for businesses and households.
After reading this blog, you will be able to understand how businesses and homes are adopting solar technology to power human activity. We will discuss the benefits of using solar energy and the reason behind the growing demand for solar panels in 2022.
Solar PV costs are declining. Today, solar panels are the most cost-competitive energy source in the Australian energy market. 2022 could well see the industry growing solar-plus-storage buildouts, exploring the floating solar PV modules and expanding the solar community projects to new markets. Australia's continuous green motivation, including the Parkes story, is an example of using renewable energy sources to compete better in the market. In the long run, using solar energy for generating electricity will also help in boosting the economy.
As of 2022, stakeholders are investing in solar energy production plants and projects, which will eventually help to confidently integrate variable renewables such as wind and solar into the electric grid. All-in-all good news for those of us in the solar power industry.
Transmission development is the key to connecting new, often remotely located renewable energy capacity to electricity consumption centres. This practice is expected to be an essential part of the renewable energy industry's agenda for combating climate change in 2022.
Using solar energy helps in building infrastructure focusing on industrial development. Various industrial applications including water desalination, residential energy needs, food processing, chemical production and mineral processing can be powered using solar energy.
Solar energy use is a profitable move for businesses. As the expenditure is minimal, companies can focus on infrastructure development by implementing improved technology for smooth working.
In 2021, solar energy providers remained under pressure because of the higher demand and lowered supply, shortage of components, rising shipping costs and expensive labour.
In 2022, renewable energy developers will likely continue to seek alternative suppliers. These include domestic manufacturers where available. Providers will also continue to reassess supply needs, and develop substitutes to help alleviate these pressures.
In 2022, end-of-life (EoL) management strategies for renewable energy industry products and materials will likely capture attention as early installations approach. EoL management can help reduce waste, increase resource security, and provide additional financial value and sustainability credentials. As solar, wind, and battery installations are expected to climb to new highs, waste generation in the renewable energy industry will likely soar and will require urgent solutions.
The demand for solar energy has remained resilient throughout much during the Covid-19 pandemic. As we saw in the sections on infrastructure development and sustainable growth, solar energy will boost economic development in the long run. As a result, Australia continues to focus on using renewable energy for profitable outcomes and economic development.
At the start of this blog, we discussed how solar energy might help households and businesses for a better profitable environment. We already saw how solar energy offers applications across a variety of activities including water desalination, residential energy needs, food processing and construction. If the solar energy industry can find a way to reduce waste, meet rising needs and find solutions for storage and transmission of solar power, we can collectively change the way in which humans live and work on this planet!
If you are keen to learn more about solar panel installations, then you can directly contact us for a quick chat.