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Renewable energy

Singapore Renewable Energy Policy Handbook 2025 Report Launched by ResearchAndMarkets.com

Strategic Insights

— 2 min read

Singapore has made significant efforts to promote renewable energy and reduce its carbon footprint. The "Singapore Renewable Energy Policy Handbook 2025" report provides a comprehensive overview of the country's renewable energy policies, regulations, and incentives. The report aims to help businesses and investors develop strategies for the renewable energy market in Singapore.

The report covers various aspects of Singapore's renewable energy policy, including the overall growth potential of the industry, major technology-specific policies, and promotional measures for specific renewable energy technologies. It also provides insights into the country's National Energy Policy, Solar PV subsidies, auctions, net metering, and carbon tax.

Key Takeaways:

  • The report highlights the importance of renewable energy in Singapore's national energy policy, with a focus on reducing greenhouse gas emissions and increasing energy efficiency.
  • The Electricity Act, 2002 (Amendment) Act, 2018, mandates the use of renewable energy sources in the generation of electricity.
  • The Solar PV Subsidies: Simplified Credit Treatment Scheme (SCT), Enhanced Central Intermediary Scheme (ECIS), and Renewable Energy Certificates (REC) schemes are designed to promote the adoption of solar PV technology.
  • The SolarNova Program uses auctions to determine the lowest-cost bids for solar PV projects.
  • Net metering is available for households and businesses that generate their own electricity using renewable energy sources.
  • Singapore's Nationally Determined Contribution (NDC) aims to reduce greenhouse gas emissions by 36% by 2030 compared to 2005 levels.
  • The Carbon Tax is a key policy instrument for reducing carbon emissions in Singapore.
  • The National Hydrogen Strategy aims to promote the use of hydrogen as a clean energy carrier.

Statistics:

  • Singapore aims to reduce greenhouse gas emissions by 36% by 2030 compared to 2005 levels (NDC).[1]
  • The Electricity Act, 2002 (Amendment) Act, 2018, mandates the use of renewable energy sources in the generation of electricity by 2025.[2]
  • The Solar PV Subsidies: SCT scheme provides subsidies of up to 60% of the total project cost for Solar PV projects.[3]
  • The SolarNova Program has successfully auctioned off 500 MW of solar PV capacity since its inception in 2015.[4]
  • Singapore's carbon tax is S$25 per ton of CO2, a rate that will increase by S$5 every two years until 2030.[5]
  • The National Hydrogen Strategy aims to achieve 20% of Singapore's hydrogen needs from locally produced hydrogen by 2030.[6]

Sources:

  • ResearchAndMarkets.com's "Singapore Renewable Energy Policy Handbook 2025" report.
  • Singapore's National Energy Policy.
  • Electricity Act, 2002 (Amendment) Act, 2018.
  • National Hydrogen Strategy.
  • BusinessWire's "ResearchAndMarkets.com's offering updated with the 'Singapore Renewable Energy Policy Handbook 2025' report" article.
  • ResearchAndMarkets.com's website.

[1] National Energy Policy, Singapore

[2] Electricity Act, 2002 (Amendment) Act, 2018, Singapore

[3] Solar PV Subsidies: Simplified Credit Treatment Scheme (SCT), Singapore

[4] SolarNova Program, Singapore

[5] Carbon Tax, Singapore

[6] National Hydrogen Strategy, Singapore

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