By 2020, the Government plans to spend £2.3bn to help solar power customers install rooftop solar panels on their homes and businesses.
The scheme, called Solar Energy Standard, is a big leap forward for solar, which was previously a niche energy source but has become an increasingly mainstream energy source in recent years.
Solar is already one of the cheapest energy sources on the planet.
According to the Solar Energy Industry Association (SEIA), the average Australian household pays £9.80 for the same amount of electricity generated by coal and gas.
Solar panels can deliver up to £4,500 of savings, but the Government’s target is £1,600 a year for new installations.
The SEIA says this will result in more solar installations, more households being solar-powered, and more money being made for electricity consumers.
The new solar standard aims to make solar a viable and widespread option for electricity customers across Australia.
Solar Power Generation Australia, a national energy association representing Australian solar companies, said solar was a growing energy source and would be a huge boon to the economy.
“This is an opportunity to deliver substantial financial benefits to Australian households and businesses by increasing solar generation, as well as enabling solar energy companies to further develop and commercialise their solar technologies,” it said in a statement. AAP/ABC