The Open Electricity Market (OEM) is a strategy started by the Energy Market Authority (EMA) in 2017, in hopes to encourage increased competition and innovation in the energy sector in Singapore.
With the Covid-19 outbreak hitting the world with a plethora of challenges, the solar industry is also not spared. With a shortage of manpower, project delays and investments being cancelled, many solar companies are currently putting business strategies on hold while facing pressures of a potential financial drain.
Before installing solar panels onto your rooftop, you will probably be considering many key factors such as suitability, cost, energy efficiency and aesthetics. While these are major considerations to take note of, the type of solar panels you choose is the determining factor affecting the outcome of all other factors.
Singapore’s energy market has progressed significantly and undergone major restructuring over the last few decades. Previously relying on oil, Singapore now uses natural gas to generate cleaner electricity. Additionally, the use of solar energy has been on the rise, with more emphasis on its benefits on the environment.
With increasing emphasis on clean and renewable energy in Singapore, having financial incentives to help manage your budget is crucial in the decision making process of jumping into the environmentally friendly, green side of energy.
Solar AI’s building level data has uncovered 3.6 gigawatts (GW) of untapped rooftop solar potential in Singapore. With public buildings accounting for 61% of the 3.6 GW identified, public agencies have to lead the charge towards an ambitious 2 GW solar target in 2030.
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