PHOTOVOLTAIC TECHNOLOGY ADOPTION RATE AMONG YOUNG SINGAPOREANS

Abstract

Solar PV technology is a burgeoning industry in Singapore as the government commits its resources in propelling Singapore into a Clean Energy Hub. This research thesis studies the developments of the Industry and attempt to reveal issues that are influential to the success of the PV industry. Interviews were conducted with solar energy companies and their views on the progress of the industry and also their recommendations were collected. With massive governmental support and foreign investments, the research thesis also explores the relationship between cost reduction of PV technology and potential future demand among young Singaporeans. Through the data collected from an online questionnaire targeted at young Singaporeans without residential properties, it is shown that cost is the major factor but the non-parametric tests have also shown that young Singaporeans are at the same time very concern with environmental impacts of energy generation and have stated environmental impacts as the next most influential choice in their decision in purchasing electricity. Various misconceptions of solar PV technology and developments were also discussed. The limitations of the research thesis would be the relatively low response rate with 2 solar energy companies agreeing to the interviews and 79 respondents completing the online questionnaire.