Record number of Aussies install rooftop solar in 2021

New figures released by the Australian Government’s Clean Energy Regulator (CER) suggest that approximately 380,000 rooftop solar photovoltaic (PV) installations occurred in Australia last year, an increase from 370,226 in 2020.

The CER manages the Small-scale Renewable Energy Scheme (SRES) which creates a financial incentive for individuals and small businesses to install eligible Small Generations Units (SGUs) – including solar PV panels. 

Under the SRES, systems eligible to claim have a period of 12 months from the date of installation to do so, meaning outstanding claims for 2021 will continue to be processed throughout 2022. This explains why the current figure for 2021 installations is 361,522. 

However, according to the CER, the current estimate for 2021 suggests the number of installations of rooftop solar PV to be “approximately 380,000 with a combined capacity of 3.2 GW”.

SRES Rooftop solar PV installations and system capacity (as at 20/01/2022)

Source: Clean Energy Regulator

Last November, the Australian Government’s Department of Industry, Science, Energy and Resources announced that Australia reached a milestone of 3 million small-scale solar systems installed on rooftops. That’s more than 1 in 4 Australian houses and many non-residential buildings with rooftop solar.

According to the CER, the size of rooftop solar systems being installed has also increased on average. While the bulk of the systems installed under the SRES remain in the 5-10kW bracket, data shows that the number of installations in this bracket are gradually decreasing over time and the share of systems installed in the 10-15kW bracket has been increasing.

This has resulted in the average rooftop solar PV system size under the SRES increasing from 8.0kW in 2020 to 8.3kW in 2021 (using current SRES data).

In addition to the state and federal government rebates available to eligible homeowners who install rooftop solar, green personal loans could allow Aussies to install rooftop solar sooner.

If you’re looking to finance your rooftop solar installation, you could save on interest charges with a green personal loan. This type of specialised personal loan product is typically offered by lenders at a lower interest rate than standard personal loans to incentivise borrowers to make environmentally responsible purchases. 

Consider visiting RateCity’s green personal loan hub for more details.

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