It has been predicted by 2018, solar could be the most economically feasible source to power big cities. By 2040, +50% of all electricity may be produced in the same place it’s used.
In Queensland last week, for the first time ever, the wholesale price of electricity plummeted into negative territory by the mid-afternoon. Normally at this time, prices are around $NZ40-$50 a megawatt hour, however this figure remained at the value of $0. Prices stayed deflated throughout the week, rooftop solar is believed to be responsible for this. Rooftop solar is one of the newest and biggest power stations in the country. The recent influx of rooftop solar is having grave affects on wholesale prices of power.
Coal will never be free, rooftop solar has been labelled as the democratisation of energy. The next move would be for households and businesses to completely disassociate from the grid, this is a terrifying prospect for coal generators. It is unclear how centralised, fossil-fuel generation, can adapt in an energy democracy.
GCP Solar recognises that West Africa benefits from high levels of solar irradiation. Currently the distribution of handheld solar lanterns is underway in rural villages in Northern Ghana, the GCP Solar team comments that the impacts already seem highly positive. These rooftop solar systems, set to be distributed by GCP Solar, will provide significant benefits to the users, such as flexible financing to their customers and reliable and clean technology. This coming September, Sidney Yankson (CEO) will be speaking at the West Africa Conference in Ghana. He will discuss the possibilities for renewable technologies in the sub-region encouraging growth and development and a brighter future for Africa.
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