Queensland Solar Farm Investment

Queensland, also known as the “Sunshine State” of Australia, is currently the nation’s leader in the solar industry. More than half a million rooftop solar systems are installed all over Queensland. In this article, we’re going to look at sunshine state’s successful solar power industry. We’re also going to look at some facts about solar power and the advantages it can provide for the overall population.

Solar Industry in Australia

Australia’s solar industry is growing exponentially. As of March 2021, over 2.77 million solar PV has been installed in the whole country. All of these combined equals21,352 MW PV solar power capacity. This huge spike in Solar PV in Australia resulted in the country being considered as the leading power in Solar PV development in mid-2019. China produces over 90% of the solar panels in Australia.

Currently, Australia has the highest per-capita solar capacity; at 600 watts per capita.They overtook Germany; which had 580 watts per capita. The biggest advantage of using solar to supply all the energy needs of Australia is that it only uses less than 0.1% of the land.
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Solar Industry News in Queensland

In this section, we’re going to look at recent news and developments that have taken place in Queensland’s ever-growing solar industry.

● Japanese companies ENEOS and Sojitz announced that they have made major investments in the development of a 204MW solar farm located in Edenvale, the Western Downs Regional Council Area, in Queensland.
This huge solar farm will take up 428 hectares of land. Annastacia Palaszczuk, Queensland’s Premier and Minister for Trade, stated that this is very good news for Queensland.

● Trade andInvestment Queensland, Queensland’s government international trade agency, also contributed to the success of this investment.

● Sojitz is one of the major trading companies in Japan. They have long and strong trading and investment in the mining industry in Queensland.

● ENEOS is the largest oil company in Japan. They have a huge focus on hydrogen and renewable energy.

● The project will create over 400 jobs during the construction phase.

● Ms.Palaszczuk is very confident in the project, stating that this will show that there is international interest in Queensland’s renewable energy future.

● 70% of the renewable energy produced in the Edenvale Solar Farm will be sold to local electricity retailers. This is to help keep a steady supply of renewable energy. The remaining 30% will be sent to Gregory Crinum Coal Mine, a facility that Sojitz owns and operates themselves.

● Ms.Palaszczuk has also announced that the State Government is going to invest $2billion into the Queensland Renewable Energy and Hydrogen Jobs Fund. This fund is part of Queensland’s COVID Economy Recovery Plan.
The whole plan is to provide cleaner and cheaper energy to power more industries and jobs in Queensland. The fund will also be used to support the development of Queensland’s resource sector. We’re going to look at this fund more in the next section.
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Queensland Invests $2 Billion to Develop Local Renewable Energy Jobs

Queensland is planning to assemble solar panels and wind farms locally and build their hydrogen electrolyzers.

The state is planning to spend $2 billion to boost jobs in the renewable energy sector. This fund will help develop a sustainable clean hydrogen industry, mine all the minerals needed for solar panel production, build the necessary hydrogen plants, electric vehicles, and batteries. They also plan to increase all the manufacturing across the renewables supply chain.

Environment groups are overjoyed with the announcement, stating that Queensland’s economy will move from fossil fuels and become a leader in clean energy. The state is planning to drive publicly-owned renewables in Queensland. This means that the state should also process the minerals and make the batteries locally. Ms.Palaszczuk said that they want local assembly of solar panels, wind turbines, etc. which will mean more local jobs for Queensland. The Labor leader also states that developing a hydrogen industry would let the solar and wind energy from Queensland be exported and help drive down transport emissions in the future.

Currently, Queensland contributes around 1/3rd of Australia’s total greenhouse gas footprint. The state’s government hopes to reach net zero-emission by the year 2050. Climate change is a very real and serious threat to our planet. This is why boosting the renewables economy and capacity while also leaving behind coal and gas will tremendously help in the fight against rapid climate change. This $2-billion-dollar fund is a huge start and has set Queensland on the right path to a cleaner and more environment-friendly future.

UK Investment Groups Makes Moves in Queensland Solar Farm Investment

United Green, aUK investment group has recently signed an agreement to acquire huge stakes in the Rodds Bay Solar Farm. This farm is currently owned by Renew Estate and is located 50 KM south of Gladstone inQueensland. The 300 MW solar farm is planned to be the biggest renewable project in Australia, even larger than the previous 204 MW solar farm from Sojitz and ENEOS. They are also planning to integrate their own storage facility in the site. It will connect to Queensland’27kV transmission network between Rodds Bay and Bororen.

Once completed, the Rodds Bay Solar Farm is estimated to produce around 625GWh of solar renewable energy every year. This is enough to power 88,000 homes 24/7.

Another UK-based investment group, Global Sustainable Energy Opportunities is also planning to make an entry into Australia’s clean energy market, entering with a fund of $95million through acquiring two Australian solar energy farms.

The GSEO’s entry into the Australian clean energy market will happen in two stages. First - they plan to acquire 17MW of various solar projects across Queensland and South Australia, totalling at$28 million. They are also planning to connect the projects with its own solar battery storage system.
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Why Investing in Solar is Worth It

The future is going to be green, and it’s never been a better time to get on board than today. Plenty of people are turned off by the price tags, however, there are plenty of reasons why the investment will be worth it, especially for the long run. Let’s look at why investing in solar energy is worth it, how it can help your community, bank account, and the planet.

Solar Energy Can Help Fight Rapid Climate Change

There have been countless climate change related disasters in the past. From the frequent hurricanes currently sweeping the Caribbean Islands, to the enormous forest-fires in California, the world is experiencing the adverse effects of climate change. We need to do something to slow down these negative changes and ensure our children’s children still have a future to look forward to.

Solar energy farms and systems do not produce greenhouse gases or air pollution. This is why it is one of the main methods we have on fighting rapid climate change. Using solar energy can have a huge positive, and maybe indirect effect, on the environment. By replacing or reducing the use of other energy sources that have a huge negative effect on the environment, such as fossil fuels, we reduce our carbon footprint bit-by-bit.
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Experts Expect Revenue to Increase in the Future

The solar farm industry has grown exponentially over the last few years. Experts expect this industry to experience even more growth in the years to come, as the entire world slowly transitions to green energy. The use of electricity generated from solar power is steadily rising over the last decade. Solar energy is considered as one of the fastest-growing renewable energy sources in Australia and allover the world.

Investing in solar farms can be pricey, however, the revenue on solar farms far out weighs the initial investment as the recurring revenue will pay dividends for years to come. Experts say that this technology will be the foundation that kick starts an economy run by clean energy in the future. So if you’re planning for the long-term, you should consider the solar farm industry.

Plenty of Land for Solar Farms

In Queensland, or Australia in general, there are plenty of croplands or lands that don’t generate enough income. Solar farms are starting to replace these lands. Finding land for solar farms has never been easier. In addition, vacant industrial sites or land have also been used to install solar farms.

When it comes to space, solar farms will need a lot of it. You don’t need to worry though as there is still plenty of land still available. This is why we recommend getting in early, as space availability may change as the years go by and the solar industry becomes even bigger than it is today.
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Conclusion

This concludes our article on solar farms and solar energy in Queensland, Australia. Being considered as the leading power in solar energy, Queensland is the number one spot to invest in solar farms today. There is plenty of land to use, and the workforce is there. We know that the initial investment can be steep, however, you can easily reach your ROI in just a few years.

For further solar farm investment enquiry, please make your enquiry through info@qicg.com.au or phone our international line at 1300 002 880. Alternatively you can visit our contact us page: https://www.qicg.com.au/contacts

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