With the new financial year upon us, we are anticipating many price increases to our basic cost of living, some tariff changes as well as policy changes. Australia have also helped fund some solar projects in Tonga.
The new financial year brings about some unfortunate news for most of us. The price of electricity is going up over 22% as of the 1st of July and many are wondering how they are going to manage. With the exorbitant cost of electricity, it is most definitely cheaper to install solar power, even unsubsidised, than it is to sit back and do nothing. Even if finance is required, it is still a wise investment. Other basics are also meant to be rising, council fees, road tolls and so on. Many of these increased fees will be passed on to our groceries and basic commodities too. We need to save where possible. Click here to read the full article.
The Greens have also been in the news this week, asking for the renewable energy target (RET) to be increased to 90% by 2030. We know from previous research that a 100% renewable Australia is possible; the question then becomes how much the government is going to put into it and support it. Greens leader, Christine Milne, said that we need to set the goal and make a plan to work towards it and it will then be achievable. Click here to read the full article.
Once again, the forecast for our future electricity demand has been slashed. Last year, the forecasts were dropped by about 10% and the actual figures are still expected to come in about 1% lower than those forecast. Our new forecasts have been dropped by about 2% – 3%. The uptake of rooftop solar power systems has definitely had an effect on our demand – they are also saying that stricter energy efficiency is bringing down our demand. With demand falling and prices increasing dramatically, Ergon Energy is reviewing its tariff systems which are seriously outdated. The Greens have asked that solar electricity be taken into account and be included in future plans. Click here to read the full article.
The Asian Development Bank (ADB) and the Australian Government have put together some funding to help the outer islands of Tonga get solar power systems. The nation relies heavily on imported diesel for power. Not only is this creating phenomenal carbon emissions but also an astronomical fuel bill. They are also vulnerable to the international market price of fuel and so can experience electricity prices as high as 74c per kilowatt hour. With nine outer islands getting a solar power facility, their situation is expected to start improving. Click here to read the full article.
Sit back and relax and enjoy the first weekend of the new financial year. We hope your solar system will be making your money while you do it!