Solar Power Continues to Have an Impact on Australia’s Energy Market

Australia’s energy market is beginning to evolve at a rapid pace and this has a great deal to do with the country’s continued focus on solar power. According to the Australian Energy Market Operator, solar power is having a major impact on the supply demand of electricity. The organization’s latest forecasts show that demand for electrical power continues to drop significantly lower than what it had previously anticipated. The forecast also shows that the consumption of electrical power continues to fall as well.

Data shows that homeowners and businesses that embrace solar power are relying less on national energy grid

Consumption of electricity from the country’s energy grid is being linked to an increase in solar installations at homes and businesses throughout Australia. Homeowners have become quite interested in solar power because of its economic benefits. By installing solar panels on the rooftops of their homes, many people are finding it possible to generate their own electrical power, thereby relying less on energy utilities. This means that they are beginning to pay less for electricity and consume less of this electricity from the energy grid.

Data could be used by utilities to call for a slowdown in Australia’s renewable energy goals

The data from the Australian Energy Market Operator could be used by utilities to highlight the problems that solar power is causing in the energy market. As consumers and businesses alike become more reliant on solar energy, they are spending less money on the energy that is being produced by utilities. Some utility groups have suggested that this could lead to higher energy prices for those that do not adopt solar power.

Government remains divided on the issue of rapid solar power adoption

The Australian government has been somewhat divided on the issue of solar power and how it is affecting the energy market. Some lawmakers believe that renewable energy is the key to a more sustainable and economically healthy future. Other lawmakers suggest that too much support for solar power could harm the energy market, making energy prices fluctuate wildly and placing some homeowners under unnecessary financial strain.

Source: http://www.hydrogenfuelnews.com/solar-energy-helps-drive-electricity-supply-demand-australia/8516780/