Social and political trends toward clean energy adoption has propelled the installation of solar panels
Melbourne, Australia (PRWEB) July 28, 2012
City: Over the past five years, the Solar Panel Installation industry in Australia has been propelled to the forefront of electrical installation services. With an annualised growth rate of 115.2% achieved during this time, the impressive current year growth rate of 13.8% is nevertheless the lowest of the period. According to IBISWorld industry analyst David Stephen, “Industry revenue of $1.39 billion is expected for 2012-13, a staggering 40-times higher than the figure of just five years prior.” Having a low base year has helped statistically, while the reality is installation levels have grown at an equally impressive rate.
Photovoltaic (PV), or solar power, capacity levels have grown exponentially on the back of a shift in social and political trends toward the adoption of renewable energy. With the support of the government, the adoption of solar power has been accelerated and the goal set for renewable energy to provide 20% of Australia's demand by 2020. The Solar Panel Installation industry in Australia has three major participants: National Solar Group, Origin Energy and CBD Energy. “The vast majority of enterprises operating in the industry are small subcontractors working for solar panel retailers,” says Stephen, “suggesting a low level of market share concentration.” Over the five years through 2012-13, the number of companies operating in the industry has escalated in order to service the spike in demand for solar panels from Australian households.
The future of solar power adoption and subsequently installation is subject to the change, despite strong potential and advocacy from a range of both political and non-political groups. Government priorities and other sources of renewable energy will provide competition regardless of how the economic landscape unfolds. This means that solar cell technology will need to compete on multiple fronts such as cost efficiency, design attractiveness and versatility of application if it is to retain a modicum of the staggering growth that propelled the industry to the forefront of clean energy adoption. Technological advancements towards economic viability remain crucial, and will determine whether the industry meets or exceeds its forecast growth over the next five years. For more information, visit IBISWorld’s Solar Panel Installation report in Australia industry page.
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IBISWorld industry Report Key Topics
Firms in this industry install solar-power panels. The work performed may include new work, reconstruction, rehabilitation and repairs. This industry excludes panels installed for specifically commercial electricity generation.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.