01.08.2012: A new study published by the Australian government forecasts that solar photovoltaic (PV) and onshore wind will be the cheapest sources of electricity in Australia within the next 20 years. The Bureau of Resources and Energy Economics (BREE) – a research unit within Australia’s Department of Resources, Energy and Tourism – estimates that if current energy policies remain in place, PV and onshore wind will have the lowest levelized cost of electricity (LCOE) of any generation technology by 2030. BREE defines LCOE as the price at which electricity must be produced from a specific source to break even. The biennial study, which examines 40 generation technologies, estimates that non-tracking PV will go on to become the cheapest generation technology in Australia by 2050. Using New South Wales as a baseline, the study estimates the LCOE of non-tracking PV will fall from $224 AUD ($235) per MWh in 2012 to $116 AUD in 2030 and $86 AUD in 2050. Meanwhile, by 2050, the average cost of single-axis and dual-axis tracking PV systems will fall to $110 and $152 AUD per MWh, respectively. The LCOE of onshore wind will stand at $99 AUD per MWh in 2050, up from $93 AUD in 2030. BREE’s Executive Director Quentin Grafton concludes that Australia’s electricity generation mix will be very different in the coming decades from what it is now: “Australia will experience an energy transformation over the coming decades that will have a profound impact for electricity networks, how energy is distributed and on Australia’s ability to meet its targeted greenhouse gas emissions reductions.” … Source: Australian Bureau of Resources and Energy Economics; Summary: PHOTON http://www.bree.gov.au/media/media_releases/2012/20120731-elestudy.html http://minister.ret.gov.au/MediaCentre/MediaReleases/Pages/RenewableEn
ergyShineby2030.aspx The complete press release can be viewed in PHOTON's archive using the following link:
http://www.photon-international.com/newsletter/document/68253.pdf | 
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