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Solar power uptake may reduce electricity prices

Households with an interest in alternative power sources may wish to take note of the latest research concerning the popularity of solar energy projects.

New research released yesterday (October 1) in The Geographical Analysis of Solar Systems has revealed that about four million Australians now have invested in solar power panels for their home and businesses.

"With power prices escalating, it is no wonder families with mortgages and regional households are looking at ways to cut energy costs," Australian Solar Council chief executive John Grimes said.

The research reveals that many Australians have opted to invest their own money in solar energy projects in an effort to reduce their electricity prices, he added.

Although, this could change if the funding assistance available under the Renewable Energy Target (RET) is cut, Mr Grimes concluded.

This may provide an opportunity to look more closely at your power bills to see whether
your household may benefit from using solar power.

The research, commissioned by the REC Agents Association, shows that in the event that if changes are made to the RET that it has the potential to affect the number of Australians who can invest in solar panel technology, the Australian Solar Council concluded.