Abstract
The deployment of low carbon electricity generation technology is driven by the twin objectives of addressing energy security and climate change. Despite the significant reduction in the cost of renewable technology, especially solar photovoltaic (PV) and wind, fossil fueled electricity generation technology remains more cost competitive especially under the low gas price. In the context of Singapore, there are two layers of cost disparity between the fossil and low carbon technologies to be addressed, namely overnight capital cost and electricity generation cost. In this study, we attempt to alleviate the gaps in the overnight capital cost and electricity generation cost by means of financial assistance from policy measures. This paper presents our preliminary findings from this study.
Published Version
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