According to a new study by the Australian Centre for Advanced Photovoltaics (ACAP), Mapping the market opportunities for ultra low-cost solar, the goal of "ultra low-cost photovoltaic" set by the Australian Renewable Energy Agency (ARENA) is expected to create a 2000GW solar photovoltaic market in Australia, this supports domestic energy demand, green goods exports, and large-scale industrial decarbonization.

The study proposes a goal called" 30-30-30 ", which refers to achieving 30% efficiency of photovoltaic modules by 2030, and system installation costs. Reduce to $0.30/watt. According to an integrated modeling framework developed by ACAP researchers at the Australian National University (ANU) and the University of New South Wales (UNSW), ultra-low-cost photovoltaics (ULCS) can provide 1000 TWh of electricity per year for domestic use and 2600 TWh for export. This is expected to create a 2000GW PV market.

According to research, under the 30-30-30 vision, the power system can provide reliable 100 per cent renewable electricity at a cost lower than today's wholesale prices. Lower electricity prices will help reduce costs in heavy industry, enabling green aluminum, green ammonia and green steel to match traditional production costs, while bringing aviation electric energy fuel (Electro-fuels) closer to commercial feasibility.

"Australia has abundant solar resources, as well as some of the richest mineral reserves in the world, such as iron ore and bauxite," Lu added. "If used properly, cheaper renewable energy technologies can drive Australia's transformation into a global supplier of green products."