Benchmark PV Plant Generation Costs in Asia
(Room Silk 4)
21 Sep 17
9:00 AM
-
10:30 AM
Tracks:
Track F - Renewable Energy Strategy
Since the beginning of this decade, solar PV technology has been one of the most disruptive forms of power generation globally, including within Asia. Particularly in Asia, due to the abundance of solar resource and land in many areas, solar PV market has enjoyed significant growth during the past decade with China, Japan, India, Thailand, Philippines, and Malaysia among the leading markets in this region. In addition, founded on the previous success of these regional markets, other promising PV markets such as Myanmar, Indonesia, and Vietnam are now also starting to pick up pace. Supported by such significant growth in the solar PV market during the last 10 years, CAPEX of solar PV technology has reduced by up to 50%, driven primarily by a competitive global equipment supply market. Consequently, the levelised cost of energy (LCOE) for solar PV has also dropped significantly. In parallel, public pressure to reduce the costs of renewable energy mean we expect a consistent reduction of incentives until power sales tariffs reach grid parity or below. The objective of this study is to provide a representative LCOE of the Asia market based on the up-to-date distinctive characteristics of each market (i.e. variations in irradiation and CAPEX and OPEX, etc.), and to analyse how well this matches with national-level plans the future solar sector investment. The key markets in Asia examined in this study include Japan, Taiwan, Korea, Thailand, Cambodia, Philippines, Malaysia, Myanmar, Vietnam, India and Bangladesh.