Published on August 22nd, 2017 | by Guest Contributor0
Australian Rooftop Solar Continues Record Year, Even With Drop In STC Prices
August 22nd, 2017 by Guest Contributor
Originally published on RenewEconomy.
By Sophie Vorrath
Another 93MW of solar PV was installed on Australian homes and business in the month of July, as booming markets in every state continue to deliver the nation’s best year to date, with a total of 568MW installed so far in 2017.
In its latest monthly market update, solar analysts Sunwiz said the solar PV market had maintained the record-breaking momentum of the previous two months, painting a picture of “a market that is level — at exceptionally high levels.”
According to Sunwiz, this July marked the second highest ever for registrations in that month, maintaining the record solar tally for any year to date that has put the market 47% ahead of the same time last year.
The report notes that part of the reason for this sustained PV market momentum is that every state is doing so well at the same time, not least Western Australia, which is having its best ever start to the year.
Of course, one significant down-side to the booming installation market has been the sudden drop in small-scale renewable energy certificate (STC) prices — which, as we reported here, caught many PV installers off-guard and pushed up the cost of installing solar by around 10% for households and small business.
According to Sunwiz, STC prices — which last month fell from around $40 to as low as $26 — are likely to keep falling as long as the STC creation rate continues to exceed the target, “something we feel is very likely to happen,” it says.
“So expect a soft STC price that will only turn north in early 2018.”
Elsewhere, the report notes that commercial solar systems of larger than 10kW notched up record high monthly and tri-monthly figures, with 33% of volume in June down to commercial installations.
In July the proportion of commercial fell slightly to 31%, as the volume in the 6-10kW range expanded to 20% of the market.
NSW again led the pack on commercial installs, although it was briefly overtaken by Victoria and then Queensland, “but rounded out July on top again” after Victoria stalled and then Queensland fell, the report says.
In the residential market, average rooftop solar system sizes remained steady at an average of 6.5kW, sustaining a new record.
Reprinted with permission.