Australian Homes Can Save $9.3 Billion Yearly with Rooftop Solar – UNSW Study
A recent report has revealed that Australian households have the potential to save a staggering $9.3 billion annually on energy bills by harnessing the untapped solar power of residential rooftops nationwide. The study, conducted by Solar Citizens and released on Sunday, highlights the significant financial benefits that could be reaped by investing in solar technology.
According to the findings, the nationwide investment in solar panels would not only pay for itself in just over five years but also result in average annual savings of $1390 per household for millions of Australians. Despite 3.68 million homes already having solar panels installed, the report points out that there are still millions of households missing out on this cost-saving technology.
Unlocking Solar Potential
The analysis, carried out by the University of NSW, identified a substantial 45.8 gigawatts of untapped photovoltaic potential on residential rooftops, with a particular focus on social housing, apartment buildings, and rental properties. Mike Roberts, a senior research fellow at UNSW School of Photovoltaic and Renewable Energy Engineering, emphasised the benefits of targeted national investments in renewable energy for households.
Roberts stated, “There is significant potential for solar power generation on various types of properties, including over three gigawatts on apartments, two gigawatts on social housing, and approximately 12 gigawatts on rental housing. Many households stand to gain from renewable energy solutions with the right support.”
National Solar Scheme
The research proposed a national scheme to equip 5.7 million homes without solar panels, estimating a total cost of $9.8 billion annually for five years. This initiative would create 48,000 jobs during the implementation phase, with energy savings projected to exceed the initial cost within 5.3 years. Once solar panels are installed, Australian households could collectively save $9.3 billion per year for two decades, translating to potential annual savings of up to $1560 per household on energy bills.
Joel Pringle, the national campaigns director at Solar Citizens, highlighted the disparity in access to renewable energy, particularly for those living in apartments or rental properties. He stressed the importance of expanding solar panel installations in the private rental market to benefit both residents and the environment.
Pringle commented, “There is immense potential for solar panels in private rentals, with the potential to save billions on energy bills. Governments should prioritise installing solar panels on social housing, while offering incentives and rebates to encourage private landlords to make the transition to solar energy.”
As the government considers its budget allocations, there is a growing call for initiatives to address barriers to solar uptake and promote electrification. Prime Minister Anthony Albanese’s recent announcement of increased financial support for local clean energy products and the launch of the Solar SunShot program underscore the government’s commitment to advancing solar energy in Australia.
