Farming Money
SELLING SUNSHINE
According to this article, Australia’s lockdown led to a surge in roof-top solar panel installations, possibly making 2020 a record breaking year for Australian green power growth. It is believed that more people working at home, together wih reduced transport costs, meaning more money for home improvements, and pandemic low interest rates, were also factors. Australia now has 2.4 million rooftop solar systems, generating 9.7 gigawatts, or 9.7 trillion watts.
Putting this another way, Australian rooftops do about one quarter of what Eskom achieves.
Solar panel prices have dropped nine-fold in a decade. What is the pay-back period now? About ten years ago, it was at least 20 years before recoupment. Nine fold is roughly 11% per annum reduction in cost, so it must surely have reduced the recoupment period to ten years or less.
Karoo “Mining”