One in five households have solar panels, but will it make a difference to energy prices?

According to the 2019 Clean Energy Australia Report, things just keep getting better for renewable energy.

In 2018, 21% of total electricity generated came from renewable energy sources - the highest level ever. Renewable energy also now powers the equivalent of more than 10 million Australian homes.

New developments were also a part of the growth, with 38 renewable energy projects completed in 2018.

Solar reaches new heights

The report also found that one in five households now have solar panels, “with six panels being installed per minute” and total annual installations jumping from 43,113 in 2017 to 58,342 in 2018.

“We all know that solar panels provide a clean energy source with minimal impact to the environment, but they’re also great at helping you trim your electricity bill,” said Mozo energy expert, Nathan Warne.

“According to the Clean Energy Council, households with solar are saving $540 on their annual electricity bill and with the number of installations increasing by 15,229 in just a year, it goes to show that more and more Aussies are catching on to the idea that solar panels are worth the investment.”

Tasmania to become a renewable energy leader

Tasmania continued to move forward with 96% of its total electricity generation coming from renewable energy, followed by South Australia (53%), Victoria (20.6%), Western Australia (16.2%), New South Wales (15%) and Queensland (9.5%).  

“It’s not surprising to see Tasmania coming out on top, they’re on their way to having 100% of their power to come from renewable sources, and hope to one day export renewable energy to the rest of the country,” said Warne.

And it wasn’t just Tasmania with big renewable dreams, the South Australian government also made efforts to launch a $50 million Grid Scale Storage Fund to improve the state’s current energy storage system.

They also kickstarted a $180 million household battery scheme to help 40,000 Aussies have batteries installed in their homes and put $200 million worth of funding toward an interconnector with NSW, to provide the state access to renewable energy when they need it.

Prices on the way down by 2020

With the news of rising disconnections in WA and new energy rules to help the Aussies who need it most, it might surprise you to know that a predicted price cut could also be on the way.

In late 2018, the Australian Energy Market Commission (AEMC) released its annual report on residential electricity prices, which revealed a predicted price drop of around $28 by June 2020 (excluding the ACT, WA and NT).

But you don’t have to wait around for another year to see a small change in your electricity bill. Take our energy comparison tool for a spin to find out if making the switch can make a big difference to your bill.

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