Dubbed as the world leader in share of wind and solar energy, South Australia has the cheapest electricity prices, and aims to use only renewable energy sources by 2030 – even exporting its clean energy by 2050.
“South Australia’s quarterly average price fell 57% to $29 per megawatt-hour, representing its lowest average since the second quarter in 2012,” says the Australian Energy Market Operator (AEMO). These continued price reductions “were largely a function of its lowest quarterly average demand on record, and increased wind and solar output in Victoria and South Australia (328 megawatts on average).”
In December 2020, South Australia posted its lowest electricity prices partly because of the increase in rooftop solar photovoltaic panels, thus reducing the grid demand, a first for a grid of this scale. Over the last year, more than 60% of South Australia’s electricity came from wind and solar, with moments that reached “world-first” levels of 100% solar energy, according to AEMO. The state Liberal government plans on having a net of 100% renewables by 2030, and 500% by 2050, meaning that it intends to export clean energy to other states and countries.