Is Macau a good place to invest in solar energy?

Song and colleagues have no doubts: “Macau has some of the richest solar resources in the world” (with average annual sunlight time exceeding 1000 h, providing about 5000 MJ/m 2 ). “Clearly, Macau has a tremendous potential for developing solar energy, especially a grid-connected photovoltaic system.

Can Macao increase solar energy?

The Macao government also sees an opportunity to increase solar energy. To encourage the installation of PV systems, officials passed a set of safety and installation regulations in 2015.

Does Macao have a photovoltaic energy contract?

The regulations require investors to enter into a 20-year contract for the purchase of photovoltaic energy with Macao’s sole energy service provider, Companhia de Electricidade de Macau (CEM). Essentially CEM will purchase the electricity produced to ensure investors profit within a reasonable period.

How many photovoltaic interconnections have been completed in Macao?

In response to a written inquiry from Macao News, the Environmental Bureau said that only five photovoltaic interconnections were completed by the end of March 2021. Meanwhile, the bureau received about 25 inquiries from local schools, industrial and commercial buildings and public utilities.

What is Wood Mackenzie's Solar System cost breakdown report?

In the data file accompanying the report, Wood Mackenzie continues to present system cost breakdowns with the choice to select from multiple module, inverter and racking technologies. This report takes a deep dive into utility-scale PV system costs and residential solar price trends from 2019 to 2025 in 16 Asia...

Does Macao have a climate problem?

As a commercial hub, Macao faces the same challenge. Energy consumption from electricity, transport and buildings accounts for nearly 90 per cent of Macao’s carbon emissions directly caused by fossil fuels. With climate change posing grave threats to the future of society, city leaders say they have made reducing emissions a priority.