Singapore’s energy sector has come a long way since its early days. Over the last 50 years, we have moved from oil to natural gas for cleaner power generation. We have also seen an increased use of solar energy, particularly on rooftops and reservoirs.
With challenges brought about by climate change, we will need to change the way we use and produce energy. This is particularly so if our energy demand continues to rise with our economic development.
Working towards a future where energy is reliable, produced and consumed efficiently, Singapore will harness these “4 Switches”:
1st Switch: Natural Gas
Today, about 95% of Singapore’s electricity is generated using natural gas, the cleanest form of fossil fuel. Natural gas will continue to be a dominant fuel for Singapore in the near future as we scale up our other switches.
EMA has taken steps to help our power generation companies (gencos) improve the efficiency of their power plants. For instance, we launched the Genco Energy Efficiency Grant Call that encourages gencos to deploy equipment or technologies to be more energy efficient and competitive. We will continue to look at ways to supporting our gencos in such efforts.
2nd Switch: Solar
Solar remains the most promising renewable energy source for Singapore, while energy storage systems allow us to counter the intermittency of renewable energy sources such as solar.
Singapore has achieved its 2020 solar target of 350 megawatt-peak (MWp) in the first quarter of that year. In the longer term, we are working towards achieving a new solar target of at least 2 gigawatt-peak (GWp) by 2030, and an energy storage deployment target of at least 200MW beyond 2025.
3rd Switch: Regional Power Grids
We will explore ways to tap on regional power grids to access energy that is cost-competitive. This could be realised through bilateral cooperation or regional initiatives.
4th Switch: Emerging Low-Carbon Alternatives
We will also look into emerging low-carbon solutions (e.g. carbon capture, utilisation and storage technologies, hydrogen) that have the potential to help reduce Singapore’s carbon footprint.
On the demand side, we will continue our efforts to improve our energy efficiency in all sectors. We will also empower our households to better manage their electricity consumption by providing them with more information.
Our Energy Story is a long-term effort. The Energy Market Authority is working with various stakeholders, from businesses to research communities, youths, unions and the general public to achieve this vision of a cleaner and more efficient energy future.