The Australian Renewable Energy Agency (ARENA) has rallied industry leaders in the solar space to launch its white paper on the ‘incredible potential’ of ultra-low-cost solar (ULCS) for Australia and the world.
This report details why ultra-low-cost solar is critical for reducing electricity costs and decarbonising hard-to-abate sectors such as industry and transport, and how it can offer exciting green export opportunities for Australia.
At the forefront of the white paper is ARENA’s 30-30-30 vision: 30% solar module efficiency with an installed cost of 30 cents per watt by 2030.
ARENA sees ULCS as key to Australia becoming a renewable energy superpower. While current technology is sufficient for domestic energy use, ULCS will be critical in reducing the cost of renewable electricity for heavy industrial processes.
The main objectives for ‘The Incredible ULCS’ white paper are to:
- elevate solar photovoltaics (PV) in Australia’s priorities by outlining the benefits that extremely cheap solar could unlock
- communicate key barriers and innovation priorities for ULCS to government, industry and the Australian public.
ULCS could lead to much cheaper electricity for Australians and export opportunities to neighbouring countries, as well as support the decarbonisation of hard-to-abate sectors such as industry and transport.