As the Solar energy industry experiences unprecedented growth, many companies like UFIT, The Chope Group and Tiger Sky Tower are turning to solar power to meet their energy needs. Here are five things that you didn’t know about going solar in Singapore.
You don’t need a roof to go solar
Sun Electric links energy consumers (that don’t have a suitable rooftop) with rooftop owners ‘off-site’ so now anyone can have access to clean, renewable energy. In this way, owners of roof space become providers of clean energy to their city, where Sun Electric installs solar panel on their roof and the energy is sold to end consumers ‘off-site’ through the grid. This is made possible by our SolarSpace system. For consumers who want to offset their energy prices, they can switch their business to renewables can enjoy the advantages of solar energy.
Prices are dropping
In 2012 Singapore reached a milestone. The costs of installing and maintaining solar panels reached the same levels as conventional energy tariffs and prices have only continued to fall since. In August this year solar prices reached an all-time low where the business and non-residential sector saw prices fall by 12% across the industry. There has never been a better time for businesses to make the switch. Solar energy is a technology not a fuel. So as efficiency improves prices will only continue to tumble, as opposed to fossil fuel energy providers whose prices can only increase as shortages and declining investment continue plaguing the industry.
Installation is free
Roof space in Singapore is scarce and according more than 80% of the population live in HDB flats. As a result, if you do have access to roof space you can Solar Lease and have a solar energy generator installed without footing the bill. All the relevant approvals and installation costs will be done for you, leaving rooftop owners to enjoy the benefits of clean, renewable energy hassle free.
New technologies are just around the corner
Singapore remains committed to investing in new solar technologies. In 2016 the Singapore government has ploughed more than S$900 million into research and development and has pledged to uphold this investment for the next five years. Investment in the solar industry is already reaping rewards. A report from the Solar Trade Association (STA) has announced the advent of cost-effective battery storage which has allowed the transfer of energy to locations with high demand can be done much more cost effectively, meaning the costs of solar energy will only become lower as technology develops.
Solar panels come with guarantees
Solar panels from reputable companies now come with up to a 25-year guarantee which protects consumers against failures due to environmental damage, wear-and-tear and manufacturing defects. Solar panels installed in businesses run for decades without problems, meaning in reality solar panels require minimal maintenance and no financial upkeep.