The chance of the Feed-in Tariff Scheme (FiT Scheme) being extended beyond 2033 is slim, Secretary for Environment & Ecology -wan told lawmakers today.
The FiT Scheme, implemented under the Scheme of Control Agreements (SCAs) which will run till the end of 2033, was launched in 2018 by the Government in collaboration with the city's two power companies - (CLP) and (HKE). Under the FiT Scheme, the power companies purchase renewable energy generated by citizens at a rate higher than the normal electricity tariff rate.
As at , some 26,000 applications have been approved by CLP and HKE. About 399 million and 15 million kilowatt hours (kWh) of electricity can be generated for CLP and HKE respectively each year, accounting for about 0.85% and 0.03% of the two power companies' fuel mix for electricity generation, and sufficient to meet the electricity demand of about 126,000 households.
Besides, the Government has earmarked a total of for installing renewable energy facilities at government buildings and facilities since 2017-18, of which about has been approved for more than 250 projects, which are expected to generate about 26 million kWh of electricity annually.
Coupling these with the projects implemented through interdepartmental collaboration and optimising the use of space in the public sector, said the Government is confident in achieving the target of meeting 1% to 2% of Hong Kong's electricity demand with solar energy by 2035, meeting the target set in the Climate Action Plan 2050.
The environment chief also noted that as renewable energy technologies are becoming mature, the trends in the Mainland and the international arena are to gradually reduce and cease subsidies for renewable energy.
Looking ahead, as many places in the world have completely ceased subsidising renewable energy, the chance of the FiT Scheme being extended beyond the expiration of the SCAs in 2033 is believed to be slim, he added.