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Title:
 
Unsubsidised PV Markets: How a National Public-Private Financing Platform Could Reduce the Impact from Low Oil Prices
 
Author(s):
 
M. Bieri, R.S. Baker, S. Tay, T. Reindl
 
Keywords:
 
Economic Analysis, Financing, Funding and Incentives, Rooftop
 
Topic:
 
PV Economics, Markets and Policies
Subtopic: PV Economics and Markets
Event: 32nd European Photovoltaic Solar Energy Conference and Exhibition
Session: 7DV.4.10
 
Pages:
 
3002 - 3007
ISBN: 3-936338-41-8
Paper DOI: 10.4229/EUPVSEC20162016-7DV.4.10
 
Price:
 
 
0,00 EUR
 
Document(s): paper, poster
 

Abstract/Summary:


For the case of Singapore, climate change is an important topic and carbon reduction is high up on the agenda. Besides energy efficiency initiatives, increasing solar photovoltaic (PV) adoption is another crucial driver for a sustainable future. As the Singapore government strives for a level-playing field among all energy players, solar PV is not directly subsidised. Having achieved grid parity in late 2012, the installed capacity has grown more than tenfold over the last five years. However, electricity prices are in a downward spiral, driven by an increasing overcapacity of conventional generation and gas-supply contracts that are pegged directly to oil prices. The economic viability for PV rooftop system investments, especially for liberalised energy intensive consumers, has deteriorated. This work looks into ways on how to use part of Singapore’s large finance and real estate resources to frame national financing schemes in order to offer more favourable financing options. A national property-backed PV financing scheme followed by an on-bill financing scheme are seen as the best possible ways to bridge current difficulties of PV systems to remain competitive. Political backing is seen as the most important driver to facilitate such schemes.