Rooftop solar market trends in August 2024

The rooftop solar market in Australia experienced fluctuations in August 2024, with a total of 277MW of newly installed PV capacity, marking a 7% decrease from the previous month’s record of 302MW in July.

Despite this dip, data from industry analyst SunWiz indicates that August 2024 was 5% higher than the same month in 2023, with the second-highest average system size recorded at 10.9kW.

Market Analysis

SunWiz’s managing director, Warwick Johnston, highlighted that market volumes decreased across all Australian states, except for Tasmania, which remained stable. The larger states experienced the most significant percentage drops in sales.

Johnston mentioned that sales drivers such as lead volume and conversion rates have not yet shifted enough to sustain growth in the market.

Segment Performance

All market segments experienced a cooling effect, except for the 30-50kW range, which saw a 1% increase month-on-month. Conversely, the 75-100kW system size, typically popular, recorded a 20% decrease in total capacity for the month.

The rapid growth in average system sizes observed since March also slowed down in August, primarily due to the significant decrease in the 75-100kW systems.

Johnston highlighted that the average system size for August 2024 rose to 10.09kW, a slight increase from July.

Overall, the market’s performance aligns with the average trend, as depicted in the provided chart.

Sophie Vorrath, editor of One Step Off The Grid and deputy editor of Renew Economy, has been reporting on clean energy for over a decade.