Australian financing is at a turning point with a host of factors pointing to a boom in a recently plagued sector.
Glori Chan, Clean Energy Finance Corporation head stated that projects are now attracting interest from commercial banks and contractors eager for a slice of the cake in one of the world’s sunniest countries.
She also said that 12 months ago, there were still no projects financeable on a commercial basis and at present, they have financed 10 projects worth $370M in debt financing, with 400 megawatts of total AC capacity and about $900M project value.
Experts have claimed that solar power is now competing with gas prices in Australia. The cost of solar panels and other hardware has gone down as Chinese manufacturers are looking into volume, production-wise and to accommodate the large solar programmes in the US, UK, India and Australia.