Thomas REINDL is Deputy CEO of the Solar Energy Research Institute of Singapore (SERIS) and Principal Research Fellow at the National University of Singapore (NUS). He started with photovoltaics (PV) in 1992 at the SIEMENS Corporate R&D Labs. After holding several management positions at SIEMENS and running one of the leading German PV systems integration companies as Chief Operating Officer, he joined SERIS in 2010 and soon became Director of the Solar Energy System cluster. During his time at SERIS, he won public research grants in excess of SGD 20 million, founded 2 spin-off companies and authored strategic scientific papers such as the “PV Roadmap for Singapore”. Dr. Reindl holds a Master in Chemistry, a Ph.D. in Natural Sciences and an MBA from INSEAD, all awarded with highest honors. His research interest are high-performance PV and embedded systems, techno-economic road-mapping and the reliable integration of renewable energies into power systems.
Title: The economics of solar PV in Singapore
Solar photovoltaics (PV) has reached the so-called “grid parity” for many commercial and industrial buildings in Singapore. This means that the levelised cost of electricity (LCOE) over the lifetime of the solar system are equal of lower than typical electricity supply contracts. This presentation provides details of the LCOE calculations and its main influencing factors. It will also give an overview of the current status of PV in Singapore and the market outlook in the future. Different business models will be introduced, ranging from self-ownership of the PV system to “solar leasing” and the sale of “renewable energy certificates” to third parties, which would like to use green electricity, but do not have own roof space available.