Viability of renewable energy technologies under the Feed-in Tariff scheme in Hong Kong

Abstract

Many countries and regions around the world have incorporated renewable energy use for the purpose of achieving resource sustainability, pollution reduction, as well as reducing the carbon footprint. Many cities around the world including Hong Kong have created Feed-in Tariff (FIT) schemes to encourage and provide incentives for renewable energy development. There is thus a need to study the feasibility of using renewable energy under the scheme. Energy generated from two prominent renewable energy technologies ‒ solar PV and wind turbines ‒ are studied for a hypothetical housing development in Hong Kong. To allow for increased knowledge of different types of solar panels and wind turbines that are available in the market, two different types of solar panels – the monocrystalline and amorphous silicon PV ‒ and two different types of wind turbines – the horizontal and vertical wind turbine ‒ are studied. The revenue that can be generated is then calculated based on a power company’s FIT scheme. The payback period required for each type of renewable energy technology development is also determined. The results show that solar panels are feasible for installation within the city, and both solar panels and wind turbines are feasible for installation on outlying islands outside the city such as Cheung Chau.