On Tuesday, AGL Energy Ltd announced plans to cease its residential solar installation services, consequently recording losses amounting to $47 million in closure and write-down costs.

Electricity rates is always a fun discussion. In Australia, it’s a hot topic and rightfully so considering that photovoltaics do have the ability to lead to creative destruction.

This may be a win for the solar and renewables industry or it may be seen as a setback for the Australian economy and carbon tax.