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Australia Solar Power Market Size, Share, Trend, Growth: By Solar Module: Polycrystalline, Amorphous Silicon Cells, Monocrystalline, Cadmium Telluride, Others; By Technology: Concentrated Solar Power Systems, Solar Photovoltaic System; By Application: Commercial, Others; Regional Analysis; Competitive Landscape; 2024-2032
Australia Solar Power Market Outlook
The Australia solar power market size is projected to grow at a CAGR of 11.77% between 2024 and 2032.
Key Takeaways
- Geoscience Australia reports that Australia receives an annual average of 58 million petajoules (PJ) of solar radiation, a figure approximately 10,000 times greater than the country's total power consumption.
- As per the Department of Climate Change, Power, the Environment, and Water, renewable power sources, including solar power contributing to 14%, comprised 32% of Australia's total electricity generation in the year 2022.
- According to recent data from the Clean Power Regulator (CER), around 3.04 million Australian homes and businesses had rooftop photovoltaic (PV) systems installed by the end of 2021.
In the Australia solar power market, the commercial sector drives growth as businesses can achieve substantial electricity bill reductions by generating their power from solar power, resulting in significant long-term cost savings.
Solar power in the commercial sector provides cost savings via lower electricity bills, favourable return on investment (ROI), financial incentives such as tax rebates, stable power costs, sustainability for corporate social responsibility, power independence, and marketing benefits.
Solar power in the residential sector offers power bill savings, enhanced property values, tax credits, environmental advantages, power self-reliance, secure long-term investments, minimal maintenance, and off-grid capabilities for homeowners.
According to the Clean Power Council (CEC), Australia saw a significant increase in renewable power, with renewables contributing nearly 40% of the country's electricity supply in 2023. The Clean Power Australia 2024 report indicates a 9.7% increase from the previous year, largely driven by 5.9GW of new clean power capacity, particularly from rooftop solar installations.
Market Segmentation
Australia Solar Power Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Solar Module
- Polycrystalline
- Amorphous Silicon Cells
- Monocrystalline
- Cadmium Telluride
- Others
Market Breakup by Technology
- Concentrated Solar Power Systems
- Linear Fresnel
- Parabolic Trough
- Power Tower
- Solar Photovoltaic System
- Mono-Si
- Thin Film
- Multi-Si
- Others
Market Breakup by Application
- Commercial
- Residential
- Industrial
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia solar power market key players are Iberdrola Australia Limited, Neoen Australia Pty Ltd., First Solar, Tindo Operations Co Pty Ltd., Lightsource bp Renewable Power Investments Limited., GEM Power Australia Pty Ltd., Sunboost Power Pty Ltd. and Australian Solar Group among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Solar Module |
|
| Breakup by Technology |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Solar Power Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Solar Power Historical Market (2018-2023)
8.3 Asia Pacific Solar Power Market Forecast (2024-2032)
9 Australia Solar Power Market Overview
9.1 Key Industry Highlights
9.2 Australia Solar Power Historical Market (2018-2023)
9.3 Australia Solar Power Market Forecast (2024-2032)
10 Australia Solar Power Market by Solar Module
10.1 Polycrystalline
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Amorphous Silicon Cells
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Monocrystalline
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Cadmium Telluride
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Australia Solar Power Market by Technology
11.1 Concentrated Solar Power Systems
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Type
11.1.3.1 Linear Fresnel
11.1.3.2 Parabolic Trough
11.1.3.3 Power Tower
11.2 Solar Photovoltaic System
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Breakup by Type
11.2.3.1 Mono-Si
11.2.3.2 Thin Film
11.2.3.3 Multi-Si
11.2.3.4 Others
12 Australia Solar Power Market by Application
12.1 Commercial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Residential
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Industrial
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Australia Solar Power Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Iberdrola Australia Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Neoen Australia Pty Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 First Solar
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Tindo Operations Co Pty Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Lightsource bp Renewable Energy Investments Limited.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 GEM Energy Australia Pty
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Sunboost Energy Pty Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Australian Solar Group
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Solar Power Market: Key Industry Highlights, 2018 and 2032
2. Australia Solar Power Market: Key Industry Highlights, 2018 and 2032
3. Australia Solar Power Historical Market: Breakup by Solar Module (USD Million), 2018-2023
4. Australia Solar Power Market Forecast: Breakup by Solar Module (USD Million), 2024-2032
5. Australia Solar Power Historical Market: Breakup by Technology (USD Million), 2018-2023
6. Australia Solar Power Market Forecast: Breakup by Technology (USD Million), 2024-2032
7. Australia Solar Power Historical Market: Breakup by End Use (USD Million), 2018-2023
8. Australia Solar Power Market Forecast: Breakup by End Use (USD Million), 2024-2032
9. Australia Solar Power Historical Market: Breakup by Region (USD Million), 2018-2023
10. Australia Solar Power Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Australia Solar Power Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 11.77% between 2024 and 2032.
The market is categorised according to application, which includes residential, commercial, and industrial.
The key players are Iberdrola Australia Limited, Neoen Australia Pty Ltd., First Solar, Tindo Operations Co Pty Ltd., Lightsource bp Renewable Power Investments Limited., GEM Power Australia Pty Ltd., Sunboost Power Pty Ltd. and Australian Solar Group among others.
Based on technology, the market is divided into concentrated solar power system and solar photovoltaic system.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others
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