Base Year2024

Forecast Years:2025-2033

Historical Years:2019-2024

Market Size in 2024:8.5 Gigawatt

Market Forecast in 2033:40.1 Gigawatt

Market Growth Rate 2025-2033:16.8%

According to IMARC Group’s latest research publication, “Australia Solar Panel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033“, The Australia solar panel market size was valued at 8.5 Gigawatt in 2024. Looking forward, IMARC Group estimates the market to reach 40.1 Gigawatt by 2033, exhibiting a CAGR of 16.8% during 2025-2033.

How Innovation and Strategic Positioning are Powering Australia’s Solar Panel Market Boom

• Government Incentives and Policy Support: The federal Small-scale Renewable Energy Scheme (SRES) provides rebates and Small-scale Technology Certificates (STCs), making solar installations more accessible for residential and commercial users, while state-level feed-in tariffs encourage excess energy sales to the grid.

• Advancements in High-Efficiency Panels: Launch of innovative products like Aiko’s 480W Neostar 2P module with 24% efficiency in February 2025, targeting premium rooftop installations and distributed through local partners to enhance residential adoption.

• Integration with Battery Storage: Rapid growth in hybrid solar-plus-storage systems, with 28,262 solar batteries installed in 2024 (up 4.9% from 2023), led by New South Wales, Victoria, and South Australia, improving energy resilience and grid independence.

• Floating Solar Innovations: Deployment of unique solutions like the 700 kWp floating solar system by Canopy Power and Ocean Sun in February 2025, featuring rainwater harvesting membranes for water-scarce regions, integrating with microgrids and batteries.

• Sustainability and Cost Reduction: Declining solar technology prices, combined with Australia’s high solar irradiance, drive commercial and industrial investments through power purchase agreements (PPAs) and renewable energy targets (RET).

Grab a sample PDF of this report:https://www.imarcgroup.com/australia-solar-panel-market/requestsample

Australia Solar Panel Market Trends & Drivers

Australia’s solar panel market is experiencing robust growth, fueled by escalating electricity costs, abundant sunlight, and comprehensive government incentives that are accelerating the shift to renewable energy. The Small-scale Renewable Energy Scheme’s rebates and state feed-in tariffs are reducing upfront costs, enabling households to achieve energy independence and sell surplus power, while net energy consumption rose 2% to 23,294 PJ in 2022-23, with solar generation surging 21% to 151 PJ. This policy ecosystem, paired with technological progress, is fostering widespread adoption beyond urban centers into rural and remote areas.