The Singapore government has said feed-in tariffs (FIT) will not be implemented in the country, which has earmarked huge funds to develop the renewable energy sector.FIT is viewed as a mechanism that will “distort the energy market in pricing and consumption”, according to Goh Chee Kiong, director for Cleantech at the Singapore Economic Development Board (EDB).
“We should factor in the full price of energy and at the same time we encourage test-bedding and demonstration projects on renewable energies,” Goh says.
The FIT mechanism prioritises electricity generated from renewable energy resources to be purchased by power utilities at a fixed premium price for a specific duration. Full Story
