The Value of Solar Photovoltaics in an Isolated Competitive Electricity Market: a Case Study of Singapore

Authors

  • Anton Finenko National University of Singapore
  • Gautam Jindal National University of Singapore
  • Anthony D Owen National University of Singapore
  • Jacqueline Tao National University of Singapore
  • Liu Xiying National University of Singapore

DOI:

https://doi.org/10.18034/apjee.v7i2.274

Keywords:

Solar photovoltaics, Singapore, merit order, frequency control services

Abstract

With a view of achieving its obligations under the global climate change regime, and low technical potential for other renewable energy technologies, solar photovoltaics (PV) is the main focus for Singapore to generate low carbon electricity. However, a high penetration of PV in Singapore’s electricity market would result in a number of costs and benefits that need to be quantified in order to ensure prudent government policies for “supporting” the widespread adoption of PV in Singapore. The quantification of these costs and benefits would allow policymakers to realize the true “value” of solar PV for Singapore and would address the limitations of relying on the levelised cost of electricity metric. This paper provides an assessment of the societal value that PV would bring to Singapore, essentially an isolated power system with a liberalized electricity market. For the purpose of this study, the determination of the value of solar involves quantifying the savings due to the merit order effect, costs due to additional frequency control services, and net avoidance of CO2 emissions.

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Author Biographies

  • Anton Finenko, National University of Singapore

    Energy Studies Institute, National University of Singapore, 29 Heng Mui Keng Terrace, Block A #10-01, 119620, SINGAPORE

  • Gautam Jindal, National University of Singapore

    Energy Studies Institute, National University of Singapore, 29 Heng Mui Keng Terrace, Block A #10-01, 119620, SINGAPORE

  • Anthony D Owen, National University of Singapore

    Energy Studies Institute, National University of Singapore, 29 Heng Mui Keng Terrace, Block A #10-01, 119620, SINGAPORE

  • Jacqueline Tao, National University of Singapore

    Energy Studies Institute, National University of Singapore, 29 Heng Mui Keng Terrace, Block A #10-01, 119620, SINGAPORE

  • Liu Xiying, National University of Singapore

    Energy Studies Institute, National University of Singapore, 29 Heng Mui Keng Terrace, Block A #10-01, 119620, SINGAPORE

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Published

2020-07-10

Issue

Vol. 7 No. 2 (2020): July - December Issue

Section

Articles

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How to Cite

Finenko, A. ., Jindal, G. ., Owen, A. D. ., Tao, J. ., & Xiying, L. . (2020). The Value of Solar Photovoltaics in an Isolated Competitive Electricity Market: a Case Study of Singapore. Asia Pacific Journal of Energy and Environment, 7(2), 55-68. https://doi.org/10.18034/apjee.v7i2.274

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