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Australian Solar Panel Industry Forecasts Slowdown

It was only back in April of this year that we wrote about Australia achieving a milestone of installing 1 million solar panel systems for which they were to be commended. Yet, here we are a few months later reporting about a possible slowdown in 2013.

The solar panel industry in Australia is forecasting a slowdown in installations in 2013.

Apparently, as many as 13% of homes in Australia are fitted with solar panels making a total of 1.1 million households that are benefitting from this renewable energy source. No doubt a significant number of these homeowners made the decision to invest in solar panels due to the falling price of the product. These homes will, of course, be making a significant reduction in carbon emissions as well as saving monies.

However, it is now being forecast that the number of solar photovoltaic panel installations in 2013 is expected to be well below that of 2012. In fact, there are forecast to be as many as 22% fewer installations in 2013 when compared with last year. One of the reasons for this is, apparently, government policies being less than helpful. The amount of homes now being fitted with solar panels has levelled off.

At the moment, the solar power industry employs 18,500 people in Australia but this figure may reduce by a sizeable 3,400 people. This news is, of course, something that the country could well do without.

Presently, Australia is in 7th place in the world in respect of the number of homes with solar panels fitted. Germany continues to be in first place globally.

It was the REC Agents Association that commissioned the report that was carried out by Green Energy Markets.

It will be interesting to monitor the situation especially as Australia has recently voted in a new government. Will the new government step in and make any significant changes that will alter the forecast? We will, as always, keep you fully informed as things unfold.

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