Despite this growth in the smaller STC market (<100kW systems) slowed to about 10% yearly while larger systems grew rather impressively especially in the 1-5MW range.
So as we dive into 2022, what are the big trends, challenges and opportunities for commercial solar and storage as we see them?
Everything costs more – inflation is impacting everything – commodities, shipping, labour and interest rates.
Sustainability is here – momentum around climate change and net zero commitments is hitting all-time highs and so is the pressure on companies to demonstrate their actions.
Solar project returns are declining – as the costs of solar systems increase and grid power prices decrease, businesses may have less financial incentive to transition to solar. There are however signs that power prices will increase with Queensland spot prices up 242% in January 2022.
Bundling and retrofitting – instances of adding further capacity to existing solar systems or storage to allow for EVs and replacing diesel generators with solar and storage are increasing.
Payment options – in challenging times cash flow is more important than ever. Finding ways to fund new solar equipment with $0 upfront and that’s cash flow positive are being readily embraced by commercial sector. This includes the uptake of both PPAs and payment plans (loans or rentals).