Suntech, the world’s largest solar manufacturing company, has produced stunning forecasts for the solar PV industry in Australia -- saying it could supply 5% of the nation’s power demand by the end of this decade, reaching the target three decades ahead of the federal government’s most recent forecast.

Stefan Jarnason, the technical director of Suntech Australia, says solar PV capacity in Australia could reach 10 gigawatts by 2020, when it would be growing at a phenomenal 2GW a year. He bases these forecasts on rapidly declining costs, which mean electricity from rooftop PV that is already cheaper than coal-fired energy delivered by energy retailers in some parts of the country, will reach parity for commercial users around 2015, and parity for utility-scale developments towards the end of the decade.