Clean Energy Industry in Singapore

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Information about Clean Energy Industry in Singapore
Business & Mgmt

Published on February 5, 2014

Author: fitagency

Source: slideshare.net

CLEAN ENERGY INDUSTRY IN SINGAPORE

CLEAN ENERGY INDUSTRY IN SINGAPORE 1 CLEAN ENERGY INDUSTRY OVERVIEW The Cleantech Industry is a strategic economic growth area of Singapore. In 2007, SGD350 million was committed by the Singapore government to the clean energy industry for the purpose of advancing research & development, and for capability development. Singapore’s Cleantech industry can be broken into two key sub-sectors – Clean Energy and Water Technologies. It is estimated that the clean energy industry itself would contribute around SGD1.7 billion to Singapore ‘s GDP by 2015 and create 7,000 jobs in the various areas of solar power, fuel cells, wind power, energy efficiency and carbon services. (The allencompassing cleantech industry is predicted to contribute SGD3.4 billion to Singapore’s GDP and generate 18,000 new jobs by 2015.) Singapore’s natural geography precludes it from adopting many natural alternative energy solutions:  Tidal, wave and ocean thermal power are not feasible as most of the sea space is dedicated to the shipping, logistics and other port purposes.  Hydroelectric power relies on the gravitational force of falling or flowing water, but Singapore lacks a major river system for that to be harnessed.  Wind energy is also still a flimsy option for Singapore as the country’s average wind speeds are too weak to justify the economic use of large wind turbines; furthermore, Singapore does not have sufficient land for commercial wind turbines.  Geothermal energy is geographically impossible, as it is typically limited to the tectonic plate boundaries. Given Singapore’s limitations, solar photovoltaic (PV) and biofuels have been determined to be the most viable options for renewable energy. Singapore’s location in the tropical Sunbelt allows it to receive 50% more radiation from the sun compared to Germany and Japan which are pioneers hubs in solar research. This, in addition to Singapore’s prevailing strength as a semiconductor hub, expertise in silicon wafer fabrication and potency in precision engineering resulted in a spontaneous move towards solar panel technologies and solar energy research to optimise its potential in Singapore. Singapore has been traditionally strong in its process and chemical industry. Leveraging on these capabilities, biofuels is another renewable energy that Singapore has decided to concentrate its efforts on. Even though, headway into biofuels is slower compared to solar energy, the step towards biofuels is a promising proposition. Distinct from most other energy sources, biomass (organic substances that stores solar energy through photosynthesis) can be converted directly into biofuels which does not add to the total carbon dioxide in the environment. Presently, global biofuel production constitutes about 1 per cent of a USD40 billion traded energy market (about 20 billion gallons annually). Based on current standards set by various governments for renewable energy use, this is expected to reach 144 billion gallons per year by 2022. Market Report 2013 – Clean Energy Industry in Singapore __________________________________________________________ 1

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