Rapid Growth in Off-Grid Renewable Projects Driven by Plummeting Solar Module Prices
The off-grid renewable energy market is experiencing significant growth, especially within the large mining sector, as consumers seek to transition away from costly fossil fuels and leverage the decreasing costs of solar panels.
David Griffin, the CEO of 5B, an Australian solar technology company specialising in prefabricated solar modules, has noted a surge in interest from companies seeking off-grid solutions in the past 18 months. The company is currently in discussions for projects that total several gigawatts in capacity.
Expanding Reach and Impact
5B has successfully installed over 144 megawatts (MW) of solar power systems, primarily in Australia but also in countries like Panama and Chile. More than half of these installations cater to the off-grid sector, showcasing the increasing demand for sustainable energy solutions.
Griffin attributes this growing pipeline of projects to the significant drop in solar module prices, which have plummeted by 50% since October of the previous year. He anticipates this downward trend to persist throughout the decade, driven by advancements in module technology such as dematerialisation and the continuous learning curve in global production.
Innovative Solutions and Collaborations
5B’s innovative approach involves procuring panels from China and assembling them in Adelaide to create a prefabricated set of 50kW solar panels. These modular units can be easily transported to any location and swiftly deployed for rapid installation.
Recently, the company secured a partnership with leading Indian solar panel manufacturer Waree to manufacture and assemble their units. This collaboration was initiated after winning a substantial 69MW contract in Puerto Rico, following the US prohibition on Chinese-made solar panels in 2022.
Local Manufacturing and Sustainable Practices
Looking ahead, Griffin expressed the company’s eagerness to source solar panels from Australian manufacturers, highlighting the growing demand within the domestic market. This move towards local production aligns with 5B’s commitment to sustainability and supporting the regional economy.
5B’s most recent accomplishment involved the completion of a 16.9 MW solar system at Northern Star’s Jundee mine site. This installation, comprising 342 Maverick solar sets, showcased the company’s ground-breaking technology that minimises ground penetration, occupies minimal space, and delivers high power output.
Gerard Major, manager at Northern Star Resources, praised the innovative approach, stating that the low ground impact of 5B’s units allowed them to utilise existing land resources effectively, transforming underutilised areas into clean energy hubs.
With a focus on sustainability and technological advancement, 5B continues to lead the way in providing efficient and eco-friendly energy solutions for the mining industry.
