Thailand’s Office of the Energy Regulatory Commission (OERC) started accepting applications today from entrepreneurs interested in investing in the installation of solar panels to produce clean energy for sale to the state.
Under the “People Sector’s Solar” project, both the Metropolitan Electricity Authority (MEA) and the Provincial Electricity Authority (PEA) will buy 100 megawatts of clean solar derived energy produced by these investors. Applications to join the scheme can now be submitted made via the websites of the two electricity authorities.
Energy Minister Siri Jirapongpant said that the project is part of the new energy development master plan, which promotes the production of up to 12,725 megawatts of clean and recycled energy over the next 20 years.
Private investors can install solar panels to produce electricity for sale to either the MEA, if their production facilities are located in Bangkok, Nonthaburi or Samut Prakan, or to the PEA for facilities located in the provinces.
The purchase price is set at 1.68 baht per unit, compared to 3.80 baht/unit rate charged to the consumer. The purchase agreement will be for ten years.
Initial investment for a 10 kilowatt solar energy production unit is estimated to be 350,000-400,000 baht and investors can expect to recoup that in 5-7 years.
