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Renewable energy

Singapore Renewable Energy Policy Handbook 2025: Analysis and Opportunities

Strategic Insights

— 2 min read

Singapore has set ambitious renewable energy targets to reduce greenhouse gas emissions and reliance on fossil fuels. The country aims to increase its share of electricity generated from renewable energy sources to 30% by 2030, with a focus on solar and hydrogen power. To achieve this goal, the government has introduced several policies and incentives to promote the adoption of renewable energy technologies.

Key Takeaways:

  • The Singapore government has established a National Energy Policy to promote the use of renewable energy and reduce greenhouse gas emissions.
  • The country aims to generate 30% of its electricity from renewable energy sources by 2030, with a focus on solar and hydrogen power.
  • The government has introduced several policies and incentives to promote the adoption of renewable energy technologies, including solar PV subsidies, auctions, and net metering.
  • The country has set a target of reducing its carbon emissions by 36% by 2030 from 2005 levels.
  • The Singaporean government has introduced a carbon tax and a tax incentive for energy-saving equipment to encourage sustainable practices.
  • The National Hydrogen Strategy aims to establish Singapore as a major hydrogen player in the region, with plans to set up hydrogen refueling stations and encourage the use of hydrogen Fuel Cell Electric Vehicles (FCEVs).
  • The SolarNova program has auctioned off over 700 MW of solar capacity since its inception in 2015, with a further 2 GW in the pipeline for the next three years.

Statistics:

  • Singapore aims to generate 30% of its electricity from renewable energy sources by 2030.
  • The country has set a target of reducing its carbon emissions by 36% by 2030 from 2005 levels.
  • The Singaporean government has introduced a carbon tax of SGD 5 per tonne of CO2e for large emitters, starting from January 2024.
  • From 2025, a carbon tax of SGD 10 per tonne of CO2e will be imposed on large emitters.
  • The National Hydrogen Strategy aims to reduce the cost of hydrogen production by SGD 10 per kilogram by 2025.
  • Singapore's Renewable Energy Certificates (REC) program provides a financial incentive for renewable energy generators, with 1 MWh of RECs equivalent to SGD 1.50.
  • The Singaporean government aims to have at least 50% of newly-purchased buses to be Electric or Hydrogen Fuel Cell Electric Vehicles (FCEVs) by 2025.

Sources:

  • Singapore Renewable Energy Policy Handbook 2025, ResearchAndMarkets.com
  • Singapore Energy Market Authority
  • Singapore Ministry of Environment and Water Resources
  • Singapore's National Energy Policy
  • SolarNova Program
  • Singapore's Carbon Tax Act 2019
  • Singapore's National Hydrogen Strategy

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