Are there any incentives or grants for installing solar panels?

While direct grants for solar installations may not be available in Singapore, there are various incentives accessible to clients in different sectors.

Commercial Clients:

1. In the commercial sector, businesses can participate in the Green Mark Incentive Scheme for Existing Buildings 2.0, an alternative pathway that supports sustainability. This program acknowledges on-site photovoltaics (PV) and other renewable energy sources as eligible equipment. By achieving the Green Mark Platinum certification, building owners can access funding support within specific funding caps. This not only promotes the adoption of renewable energy solutions but also motivates investments in sustainability and energy efficiency, aligning with Singapore’s broader environmental objectives.
2. For commercial clients with facilities emitting at least 25,000 tones of greenhouse gas emissions annually, a carbon tax is applicable. This tax will incrementally rise from $5 per tonne of CO2 to $25 in 2024 and $30 in 2025. However, installing solar panels allows clients to utilize green energy, exempting them from carbon taxes.
3. Commercial clients who have installed solar are also eligible for Renewable Energy Credits (RECs), each equivalent to 1 MWh of green electricity. These RECs can be sold to potentially increase returns or used to offset the consumption of non-renewable energy, facilitating 100% carbon neutrality.
4. Grid-tied commercial clients with solar installations can benefit from the Net Metering Export Scheme, enabling them to be compensated for each kWh unit exported to the grid. The specific scheme and system suitability will impact the unit price or quantity of energy exported.

 

Residential Clients:

1. Similarly, residential clients can also access Renewable Energy Credits (RECs), although on a smaller scale. They have the option to either sell their RECs through a third-party platform or a service provider.
2. Residential clients are eligible for export incentives, akin to their commercial counterparts, contingent on the scheme and system suitability.