Thailand’s solar rooftop market to see growth amid falling prices
Falling costs and fresh policies spark investor interest in Thailand’s booming clean energy landscape
The solar rooftop market in Thailand is poised for increased competition, driven by decreasing prices, a rise in supply from manufacturers, and government initiatives to promote renewable energy.
EnergyLIB, a solar energy solutions provider, has introduced a solar system for townhouses, while a consortium including German cable manufacturer Lapp Holding Asia, Hong Kong-based industrial conglomerate Jebsen and Jessen Group, and Chinese solar panel maker Deye, is also launching new products.
According to Chatchai Wajakiet, general manager of JJ-Lapp, a joint venture between Jebsen and Jessen Group and Lapp Holding Asia, reduced prices and relaxed government regulations on solar panel installation will boost the demand for solar rooftop panels in Thailand. Entrepreneurs such as office owners and factory operators are currently the primary buyers of solar energy; however, the household sector is expected to become a significant market in the coming years.
Chatchai noted that the popularity of clean energy has increased due to more affordable solar panels and batteries. In 2010, photovoltaic panels generating 1 megawatt of electricity cost 150 million baht, but this has now decreased to 15 million baht per MW, according to Prapunt Harnchai, a consultant for Deye Thailand. A 5-kilowatt-hour battery energy storage system (BESS) previously cost 250,000 baht, with current prices reduced to 200,000 baht.
A BESS is crucial for solar panels as it stores electricity and provides backup power, given the sun’s intermittent nature and electricity generation’s reliance on weather and seasonal conditions.
Analysts in both the state and private sectors have noted that Asian countries may witness an increase in solar panel exports from China following US President Donald Trump’s proposal of significant tariffs on solar panel imports from Southeast Asia, reported Bangkok Post.
Chinese companies with production facilities in Malaysia, Cambodia, Thailand, and Vietnam have faced accusations of exporting panels to the US at prices below production costs due to unfair government subsidies.
The US International Trade Commission is expected to finalise the decision on the new US tariffs next month.
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