$20m Carrot For Building Owners To Go Solar

Source : The Straits Times, May 07, 2008

TAPPING the sun's energy has just been made easier for building owners.

The Government yesterday announced details of a $20 million scheme that could see as many as 100 solar projects sprout around Singapore in the next two years.

The carrot being dangled in front of private developers and building owners is a subsidy that trims the cost of a solar project by 30 per cent to 40 per cent.

The grant is capped at $1 million for each project.

Solar projects usually cost from $100,000 to a few million dollars, depending on the scale and technology used.

'This is a very attractive offer... We expect keen interest from the industry,' said Economic Development Board (EDB) managing director Ko Kheng Hwa, who unveiled the initiative yesterday at the annual Semicon Singapore conference at Suntec City.

The top priority of the Solar Capability Scheme, said Mr Ko, is to build up a critical mass of projects so as to develop manpower capabilities in Singapore's fledgling solar industry.

'We are focusing on boosting the demand side...so the local professionals will learn how to design good solar systems.'

The scheme, first mooted by Senior Minister of State for Trade and Industry S. Iswaran in Parliament in March, is the Government's latest answer to increasing calls for incentives to kick-start the solar industry.

The sector has attracted headline investments in the last year, including a $6.3 billion giant solar manufacturing plant that Norwegian firm Renewable Energy Corp is building.

'This scheme will go a long way in building up critical capabilities among various players in the solar energy ecosystem,' said Mr Ko.

It starts with immediate effect and applies to new private buildings that meet a minimum Green Mark Gold standard, according to the EDB.

The Green Mark is a rating system developed by the Building and Construction Authority that rates buildings for their environmental impact and performance.

Developers like City Developments have already incorporated solar systems into new condos, which have been given the Green Mark stamp of approval.

Some factors that will determine the grant size include innovation, design, effectiveness and skills development, said Mr Ko.

The EDB also announced yesterday a new international advisory panel for clean energy that will hold its first meeting next month.

Industry players like Mr Christophe Inglin, the managing director of solar firm Phoenix Solar, hailed the new scheme, saying: 'It's the best news the industry has received for some time.

'We've seen an increase in interest in solar systems. Hopefully, this boost will convince clients that solar is the way to go.'


LONG-TERM GOAL

'This scheme will go a long way in building up critical capabilities among various players in the solar energy ecosystem.'

MR KO KHENG HWA, EDB's managing director, on the scheme