Rooftop solar power has grown exponentially in Singapore over the past several years. In fact, from 2014 to 2015, Singapore solar energy capacity grew by a whopping 392%!
Casual observers may notice that more rooftop solar panels are popping up on both homes and businesses every day in cities and neighborhoods all over the country. So what do experts see for the future of power provided by the sun?
A GROWING PIECE OF THE ENERGY PIE
Despite its growing popularity, solar power still makes up only a small fraction of the energy mix used in Singapore.
In fact, even with the industry’s robust growth, it still only accounts for about 1% of the nation’s total capacity. The good news is that the sky appears to be the limit for this beneficial industry.
SOLAR IS BECOMING BIG BUSINESS
Homeowners aren’t the only ones taking advantage of solar energy. Today, almost as many businesses are opting for solar panel systems as well.
From a business perspective, harnessing the sun’s energy offers a way to turn unused roof space into an asset — and even a profit center — for the company. It’s also a great way for commercial property owners to lease the space on their rooftops to utility companies, to bolster their property’s leasable area.
Today it is quite common to see solar panels installed on retail stores, shopping center roofs and parking canopies everywhere.
Last but not least, many consumers are more likely to give their business to a company that has made the commitment to invest in renewable power technologies. Businesses throughout Singapore have reported experiencing this public relations bump.
THE SOLAR CARPORT
Something new, and something that you will soon be seeing a lot of, is the solar carport.
Essentially, these are parking structures covered with PV panels. You will see them on corporate campuses, at public schools, and more and more at shopping centers and grocery stores, too.
These large arrays provide power to the businesses where they are installed, and if they produce more than the business can use, they also provide power to the community at large.
The primary reason that solar energy has really taken off over the last several years is its historically low cost, coupled with growing concerns about the stability of Singapore power grid and utility infrastructure.
With net export rebates offered to Singapore , rooftop panels and solar energy systems are accessible today to people of all socioeconomic levels. However, the greatest growth today is among the middle class.