SINGAPORE: More homeowners, including those living in condominiums, are exploring solar panel installations as global energy pressures drive up electricity costs.
Solar firms say interest has surged in recent months amid ongoing energy market volatility stemming from the Iran war.
Local startup GetSolar, for instance, saw installations this month jump fourfold compared to earlier in the year. Enquiries in March alone doubled from February, spanning landed homeowners, commercial clients and condominium residents.
Another provider, FOMO Energy, reported a similar trend, with landed residential enquiries rising more than 60 per cent since early March.
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“Property managers are increasingly recognising that their rooftops are underutilised assets,” said the firm's business development manager Dionne Sim.
“With energy prices becoming more unpredictable, the economic case for solar has never been stronger.”
While interest is rising among condominium residents, adoption remains more complex due to technical and structural constraints.
Most condominiums operate on a system where the entire development is served by a single main meter connected to individual units.
Under this setup, excess solar energy cannot be easily exported to the national grid and must instead be consumed within the estate, limiting potential returns and making such projects less financially attractive.
Furthermore, rooftop space in condominiums is often limited and shared among multiple facilities, restricting the scale of installations.
Approval processes can also be lengthy. Solar projects typically require consensus from Management Corporation Strata Title (MCST) councils and, in some cases, residents, adding another layer of complexity compared to landed properties.
Other property types face their own constraints. Shophouses, for example, may have limited roof space or structural challenges due to their age, while those in conservation areas may need to comply with additional regulations.
The same global pressures fuelling demand are also pushing up the cost of solar panels.
Industry players say material costs have risen in recent months due to supply chain disruptions and higher commodity prices, with some estimating increases of up to 20 per cent, depending on how global conditions evolve.
Installer Hao Solar said it is grappling with rising costs even as demand for its services has more than doubled since last year.
“Not just oil prices have been affected. Even metal prices, silver prices have all been affected. The cost of materials, even when we supply directly from China, have increased,” said the company's director Hugh Chan. Silver is a key component in solar panels due to its high electrical conductivity.
Despite higher upfront costs, companies maintain that solar installations offset rising electricity bills over time, offering long-term savings. Installers estimate that most customers break even in about four years.
Beyond cost savings, solar is increasingly seen as a way to improve energy resilience.
“Clean energy … is no longer just a feel-good option. Now, this is essentially a hedge against energy shocks and volatility, and that's what (both) residential as well as commercial customers are looking for,” said GetSolar co-founder Luke Ong.
Analysts say ongoing global volatility could push electricity and gas tariffs higher, making alternative energy sources increasingly attractive.
FOMO Energy's Sim added that customers are becoming more proactive in managing energy costs: “Homeowners are coming to us more informed and more urgent (than before). Rising electricity prices are pushing people to act.”
Given the hurdles, industry players and property managers say more support may be needed to accelerate adoption.
Some suggest grants or rebates tied to electricity bills could help offset upfront costs for condominiums. Others point to existing incentives such as Green Mark Certification benefits, which already encourage some commercial players to adopt solar energy.
Singapore has been stepping up its solar ambitions, with a national target of reaching at least 3 gigawatt-peak of solar capacity by 2030 – enough to power around half a million households annually.
As electricity prices remain uncertain and energy security becomes a growing concern, solar adoption is expected to rise.
Industry players say that despite the challenges, they expect more and more households and businesses to turn to solar power in the years ahead.
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Solar firms say interest has surged in recent months amid ongoing energy market volatility stemming from the Iran war.
Local startup GetSolar, for instance, saw installations this month jump fourfold compared to earlier in the year. Enquiries in March alone doubled from February, spanning landed homeowners, commercial clients and condominium residents.
Another provider, FOMO Energy, reported a similar trend, with landed residential enquiries rising more than 60 per cent since early March.
CNA Games
Show More Show Less
“Property managers are increasingly recognising that their rooftops are underutilised assets,” said the firm's business development manager Dionne Sim.
“With energy prices becoming more unpredictable, the economic case for solar has never been stronger.”
CONDOS FACE BARRIERS
While interest is rising among condominium residents, adoption remains more complex due to technical and structural constraints.
Most condominiums operate on a system where the entire development is served by a single main meter connected to individual units.
Under this setup, excess solar energy cannot be easily exported to the national grid and must instead be consumed within the estate, limiting potential returns and making such projects less financially attractive.
Furthermore, rooftop space in condominiums is often limited and shared among multiple facilities, restricting the scale of installations.
Approval processes can also be lengthy. Solar projects typically require consensus from Management Corporation Strata Title (MCST) councils and, in some cases, residents, adding another layer of complexity compared to landed properties.
Other property types face their own constraints. Shophouses, for example, may have limited roof space or structural challenges due to their age, while those in conservation areas may need to comply with additional regulations.
LONG-TERM SAVINGS
The same global pressures fuelling demand are also pushing up the cost of solar panels.
Industry players say material costs have risen in recent months due to supply chain disruptions and higher commodity prices, with some estimating increases of up to 20 per cent, depending on how global conditions evolve.
Installer Hao Solar said it is grappling with rising costs even as demand for its services has more than doubled since last year.
“Not just oil prices have been affected. Even metal prices, silver prices have all been affected. The cost of materials, even when we supply directly from China, have increased,” said the company's director Hugh Chan. Silver is a key component in solar panels due to its high electrical conductivity.
Despite higher upfront costs, companies maintain that solar installations offset rising electricity bills over time, offering long-term savings. Installers estimate that most customers break even in about four years.
Beyond cost savings, solar is increasingly seen as a way to improve energy resilience.
“Clean energy … is no longer just a feel-good option. Now, this is essentially a hedge against energy shocks and volatility, and that's what (both) residential as well as commercial customers are looking for,” said GetSolar co-founder Luke Ong.
Analysts say ongoing global volatility could push electricity and gas tariffs higher, making alternative energy sources increasingly attractive.
FOMO Energy's Sim added that customers are becoming more proactive in managing energy costs: “Homeowners are coming to us more informed and more urgent (than before). Rising electricity prices are pushing people to act.”
CALLS FOR MORE SUPPORT
Given the hurdles, industry players and property managers say more support may be needed to accelerate adoption.
Some suggest grants or rebates tied to electricity bills could help offset upfront costs for condominiums. Others point to existing incentives such as Green Mark Certification benefits, which already encourage some commercial players to adopt solar energy.
Singapore has been stepping up its solar ambitions, with a national target of reaching at least 3 gigawatt-peak of solar capacity by 2030 – enough to power around half a million households annually.
As electricity prices remain uncertain and energy security becomes a growing concern, solar adoption is expected to rise.
Industry players say that despite the challenges, they expect more and more households and businesses to turn to solar power in the years ahead.
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