New Report: Lowering power prices - renewables are the answer
A new report, commissioned by Solar Citizens, has found that small solar pv systems in NSW saved energy consumers between $2.2 and $3.3 billion in the last year.
“This report is further proof that solar benefits the whole community by delivering cheap, clean energy that puts downward pressure on power prices for everyone,” said Shani Tager, Senior Solar Campaigner at Solar Citizens.
“It’s clear as day - the more solar on roofs, the cheaper power is for everyone. This shoots an enormous hole in the Federal Government’s ongoing rubbishing of renewable energy.
“It’s disappointing that the Federal Government has been more interested in political point scoring than actually lowering power prices when rooftop solar is the simple solution and has already been embraced by 1.7million Australian households and businesses.
“Rooftop solar has always been the best way for individual households to take control of their power bills, it is indisputable, as this report shows, that the benefits are shared by all energy consumers.
“When rooftop solar is pumping out clean power, demand goes down and so retailers don’t have to buy as much power on the wholesale market. This results in lower electricity prices for all of us.
“Imagine if more households, schools, hospitals, shops and public buildings across the country had access to cheap, clean solar power - there would be more benefits to all electricity consumers.
The report prepared by energy market consultants Energy Synapse analysed a one year study period (1 May 2016 – 30 April 2017) and found:
● Rooftop solar PV decreased the volume weighted average price of wholesale electricity from a top of $132/MWh to $88/MWh
● Each megawatt hour of power produced by small solar reduced wholesale costs by $1,400-$2,200.
● The biggest monthly cost reduction was in February 2017, of at least $740 million
● Small solar PV reduced the length of peak demand by 58% (3.1 hours), and the severity of peak demand by an average of 3% (432MW)
“Rooftop solar produces around 2% of power in NSW but what it does is reduce demand for power at peak times - without rooftop solar, wholesale electricity prices would be 33-50% higher.
“NSW residents want cheap, clean energy and rooftop solar just makes sense. Over 370,000 households and businesses across NSW have rooftop solar, and many more are ready to make the switch.
“While this report looks specifically at NSW, we anticipate similar outcomes for other States and Territories, including South Australia and Queensland, which have high levels of rooftop solar.
“Solar is already a big part of Australia’s energy mix, and we need to clear the roadblocks so that every rooftop that can have solar is able to get it.
“Rooftop solar benefits the whole community but solar owners have been getting a raw deal from retailers who can pay them nothing for the power they produce. It’s time solar owners got a fair price for their power.
Media contact: Andrew Bradley p: 0403 777 137 e: [email protected]