The cost of deploying solar varies depending on the size of the solar PV system, the type of panels used as well as the type of application. The overall upfront cost for a rooftop PV system can range from S$1 to S$1.4/Wp depending on the size of the system. Smaller systems are relatively more expensive than larger systems. For example, a 10 kWp residential rooftop PV system can cost around S$1,540/kWp while a 1,000 kWp industrial rooftop PV system can cost around S$940/kWp. The operation and maintenance costs range between 1 to 1.45% of upfront costs (1% for large rooftop systems compared to 1.45% for smaller systems).

For more cost information you can refer to the National Solar Repository website or reach out directly to solar vendors to compare quotes.

While the upfront costs of solar can be significant, these costs can be recovered through electricity generated by the solar PV system over its lifespan. The levelised cost of electricity (LCOE) of solar is a well-established method in energy finance and policy to calculate the cost of solar electricity generation by dividing the entire lifecycle cost of a solar PV system by its cumulative solar electricity generation. Based on estimates, the LCOE for small scale rooftop solar PV ranges from $0.11/kWh - $0.15/kWh. In comparison, the regulated tariff, which reflects the cost of electricity sold by SP Group is $0.25/kWh for 3Q2021.

The Solar Energy Research Institute of Singapore (SERIS) also offers a LCOE calculator that provides an indication of the LCOE of a solar PV investment.