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According to AEMO (Australian Energy Market Operator), residential solar energy can meet up to 77% of demand in the NEM (National Electricity Market) by 2026, surpassing the record 35% recorded in October last year.
The survey also showed that consumers in this segment must install an additional 8.9 GW of solar panels. Currently, this sector has 14 GW of installed power.
To give you an idea, photovoltaic energy is present in 30% of Australian homes and is the most decentralized energy market in the world, according to BloombergNEF.
The AEMO report also indicated that the shift could be more profound locally, with South Australia possibly becoming the first major grid in the world to meet 100% of its domestic solar demand by the end of November this year.
“With the retirement of coal plants and growing interest in hydrogen development, residential solar is accelerating the NEM transition,” the operator said. The NEM does not include Western Australia and the Northern Territory, while the Continental NEM excludes Tasmania.
“Australia’s energy system is transitioning to a decarbonised and decentralized system. In 2025, there will be periods when all customer demand can be met by renewable generation”, highlighted Daniel Westerman, CEO of AEMO, in a statement.
Source: Bloomberg
