Which Country Has The Most Affordable And Clean Energy?

by | Oct 29, 2023 | Renewable Energy

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People have always talked about clean and green energy interchangeably. Well, there’s a slight difference between them. Clean energy is the kind of energy that doesn’t release any air pollutants, while green energy is the energy we get from natural sources. One such form of clean energy is renewable energy, which has grown immensely over the years, and it’s more important than ever to switch to renewable energy as quickly as possible. Explore which country has the most affordable and clean energy in this article.

affordable and clean energy

 

As we move towards a more sustainable future, some countries are making remarkable strides through a combination of smart technology and policies. According to the Global Electricity Review 2023, wind and solar power have become more cost-effective than fossil fuels. Australia is leading the way in affordable solar power, while China is a leading producer of wind energy. Australia boasts the highest installed rooftop solar capacity per person, with an impressive 746 W DC per individual. Unsurprisingly, the price per watt for a 3-kW system in Australia is less than a dollar. These countries are inspiring examples of the progress we can make towards a cleaner, greener world. Let’s look at the details about Australia as a provider of the cheapest solar energy.

The cheapest solar energy in the world

In Australia, the cost of a 3-kW system is quite affordable at just USD 0.96 per watt. And the good news is the cost gets even lower as the system’s capacity increases. On the other hand, in the USA, the cost for a 3-kW system is relatively high at USD 4.6 per watt. For an 11-kW system, the cost is still over USD 2 per watt.

This is due to various factors, including decreasing polysilicon prices, a key component of thin panels. Since December 2022, the cost of this material has decreased by two-thirds, resulting in significant savings for those in the renewables market. As a result, Australia is now in a favorable position to take advantage of this trend and reap the benefits of cost-effective and sustainable energy.

Important factors that influence the price of Australia

Let’s have a look at some important factors that influence the price of solar energy in Australia

i) Wholesale Equipment Costs: Over the last 15 years, the wholesale cost of solar equipment has experienced a significant decline. This is largely due to manufacturers achieving tremendous economies of scale thanks to global growth.

ii) The Australian Dollar: As the value of the Australian Dollar fluctuates, solar equipment manufacturers and distributors quickly adjust their prices accordingly. It’s important to note that quotes for solar installations typically have a limited validity of only 7 to 30 days. This ensures that any unforeseen cost changes do not impact solar installers.

iii) Competition and Cheap Solar: Australia’s solar industry is a highly competitive market with thousands of contractors accredited by the Clean Energy Council to install solar. This has resulted in slim margins within the market.

Largest wind energy producer in the world

China is the leading producer of both types of wind power, with a significant lead over the second-ranking country. Thanks to its investment efforts and abundant natural resources, China is becoming a leader not just in numbers but also due to its strong dedication to research and development and incentives for the renewable energy industry.

With the increasing global warming and pollution, adapting to clean energy has become necessary. With this article, we hope the doubt of which country has the most affordable and clean energy is solved. Let’s adopt clean energy and contribute to a greener future.

Also Read: Do Solar Panels Need Cleaning?

Author

  • Michael Thompson

    Michael Thompson is an esteemed expert in the renewable energy sector, with a profound experience spanning over 25 years. His expertise encompasses various sustainable energy solutions, including solar, wind, hydroelectric, and energy efficiency practices. Michael discusses the latest trends in renewable energy and provides practical advice on energy conservation.

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