A new report reveals how regional policies, seasonal factors and changing consumer preferences are reshaping Australia’s energy landscape.
Australia celebrated a record renewable year in 2024, with Q3 marking a high point for the country’s energy transition, with 824,640kW of new solar capacity installed – a 3.98 per cent increase over the same period in 2023.
These findings from solar market intelligence firm Solar Nerds’ authoritative solar market intelligence report highlight the varying factors that are shaping Australia’s energy landscape.
The report provides energy industry professionals with detailed insights into installation volumes, market leadership, regional performance metrics, and industry perspectives that collectively paint a picture of Australia’s ongoing energy transition.
The report’s national data presents a comprehensive view of Australia’s solar energy adoption, with detailed breakdowns of installation volumes across all states and territories. A pie chart visualisation clearly illustrates the distribution of solar capacity across different regions, highlighting which states are leading in renewable energy integration.
The data reveals that Australia’s total solar installations reached 322,231kW in 2024, representing a 3.98 per cent increase over the previous year.
New South Wales led this transformation with 32 per cent of the national capacity, followed by Queensland at 26 per cent and Victoria at 21 per cent. This distribution highlights the effect of differing policy frameworks and network capabilities on renewable energy integration rates.
The report offers valuable insights into system size distribution across Australia, categorising installations into three key segments:
- 0-15kW systems – primarily residential installations
- 15-40kW systems – small commercial and larger residential applications
- 40+kW systems – commercial and industrial installations
This segmentation helps energy professionals understand how different market sectors are contributing to overall distributed energy resource growth.
For grid operators and energy planners, these insights are crucial for anticipating network impacts and planning for the integration of increasing quantities of distributed solar generation – especially as AEMO continues to forecast increasing distributed energy resources in its Integrated System Plan.
Solaris Finance (owner of Solar Nerds), Managing Director, Imraan Thanawalla, said, “The data shows the residential sized system is dominating the market, backing up the anecdotal evidence that the 6.6kW solar system and 10kW solar system are the standard in this market.”
The report also provides detailed state-level analyses that help energy professionals understand regional market dynamics. These state-specific insights help energy market participants understand how policy frameworks are influencing renewable energy adoption across different jurisdictions, complementing findings from CSIRO’s latest energy transition outlook.
The report features 12-month historical data presented through intuitive bar charts, allowing energy professionals to track installation volumes over time. This temporal analysis is complemented by quarter-over-quarter comparisons that indicate market growth or contraction trends.
The data shows that Q3 saw the highest installation volume, with 824,640kW deployed, representing a 3.98 per cent increase over the same quarter the previous year.
Conversely, Q1 recorded 782,679kW, highlighting the seasonal nature of solar installations. The report also notes that July achieved the highest monthly volume at 291,872kW.
For energy policy makers and market analysts, these trends provide essential context for evaluating the effectiveness of various policy-driven market enablers in driving solar adoption.
The ability to observe seasonal patterns and identify long-term trajectories is invaluable for forecasting future energy market developments.
Through comprehensive leaderboards, the report identifies the top solar installers by volume at both national (top 10) and state (top 5) levels. These rankings include market share percentages and total installation figures, offering insights into market concentration and competitive dynamics.
Energy market analysts can use this data to assess industry structure and identify emerging trends in market leadership. The comparative data helps track how the competitive landscape is evolving in response to policy changes and market conditions.
The report includes dedicated analysis of the small-scale technology certificate (STC) market, with rankings of top traders by volume and market share. This information is particularly valuable for energy market participants seeking to understand how financial incentive mechanisms are functioning.
The STC trading data provides insights into how effectively the small-scale renewable energy scheme is operating and how certificate prices are influencing installation economics. This market mechanism remains a crucial component of Australia’s renewable energy policy framework.
Detailed postcode leaderboards identify the highest-performing areas for solar installation, with year-over-year growth metrics highlighting emerging hotspots. This geographical analysis helps energy professionals understand the localised nature of renewable energy adoption.
For network operators, this information is essential for identifying areas of high distributed energy resource penetration that may require grid upgrades or management strategies. The postcode data also reveals socioeconomic patterns in clean energy adoption.
The report’s industry survey results provide valuable perspectives on technology preferences and operational practices:
- Preferred inverters, batteries and solar panels among installation professionals
- Design software preferences and technological approaches
- Market insights on financing models (cash vs. finance)
- Industry perspectives on operational challenges and business outlook
These insights give energy market participants visibility into how the solar industry is evolving technologically and operationally. Understanding installer preferences provides context for technology adoption trends and supply chain dynamics.
The survey results also offer perspectives on financing companies that are gaining traction in the market, which is valuable information for energy retailers and financial service providers operating in the renewable energy space.
The survey reveals that among battery brands, Sungrow leads the market with 20.56 per cent of installer preferences, followed by Tesla at 18.69 per cent and BYD at 8.41 per cent. Average battery system size has increased to 10kWh, indicating growing consumer interest in higher capacity storage solutions.
The 2024 Yearly Report features an awards section recognising excellence in solar installation across various categories, including top performers in different system size segments and overall market leaders. These awards highlight exemplary companies that are setting benchmarks for the industry.
For energy market participants, these recognitions help identify which companies are demonstrating best practices and market leadership in Australia’s evolving energy landscape.
The report provides energy industry professionals with comprehensive, data-driven insights into Australia’s solar market. The detailed installation metrics, regional analyses and industry perspectives collectively illuminate the nation’s progress in energy system transformation.
For energy policy makers, market analysts, utility executives, and other professionals in the energy sector, Solar Nerds’ 2024 Yearly Report offers valuable intelligence for understanding current market dynamics and planning for future developments.
